Sai Silks Raises Rs 360.3 Crore From Anchor Investors Ahead Of IPO
The ethnic apparel retailer has allotted nearly 1.62 crore shares at Rs 222 per share to 26 anchor investors.
Sai Silks (Kalamandir) Ltd. raised Rs 360.3 crore from anchor investors ahead of its initial public offering, which is set to open on Sept. 20.
The ethnic apparel retailer has allotted nearly 1.62 crore shares at Rs 222 per share to 26 anchor investors.
The investors included SBI Multicap Fund, ICICI Prudential Flexicap Fund, Kotak Smallcap Fund, HSBC Consumption Fund, Abakkus Growth Fund, and Eastspring Investments India Consumer Equity Open Ltd., among others.
Out of the total allocation, about 1.17 crore equity shares were allocated to eight domestic mutual funds through a total of 16 schemes. They have collectively invested Rs 260.28 crore, which is 72.27% of the total portion.
SBI Multicap Fund secured an allocation of 19.43%, ICICI Prudential Flexicap Fund secured 13.88%, and HSBC Consumption Fund secured 5.55%, among others.
About Sai Silks IPO
The offer of Sai Silks comprises a fresh issue of equity shares worth up to Rs 600 crore and an offer for sale component of up to 2.70 crore equity shares by promoters and promoter entities, according to the Red Herring Prospectus.
Proceeds from the fresh issue worth up to Rs 125 crore will be used for funding capital expenditure towards setting up 30 new stores and up to Rs 25 crore for setting up two warehouses.
