Ethnic Apparel / Sarees & Dress Material - Listed on 27 September 2023
Sai Silks (Kalamandir) (Ethnic Apparel / Sarees & Dress Material) closed its IPO window in 2023 and listed on NSE and BSE on 27 September 2023 at an upper band issue price of Rs 222, opening at Rs 231 for a listing gain of +4.1% and closing day one at Rs 244.9 (+10.3% on closing basis). The IPO was subscribed 4.40x overall - QIB 12.35x, HNI/NII 2.47x, Retail 0.88x. The total issue size was Rs 1,201 Cr (Fresh Issue Rs 600 Cr, OFS Rs 601 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Ethnic Apparel / Sarees & Dress Material
Sai Silks (Kalamandir) operates in the Ethnic Apparel / Sarees & Dress Material space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Sai Silks (Kalamandir) issue was offered at an upper price of Rs 222 and raised approximately Rs 1,201 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 15 | +6.76% |
| Day 2 | Rs 15 | +6.76% |
| Day 3 | Rs 10 | +4.50% |
| Day 4 | Rs 15 | +6.76% |
| Day 5 | Rs 15 | +6.76% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Sai Silks (Kalamandir) IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Sai Silks (Kalamandir) IPO listed at +4.1% versus the upper issue price of Rs 222 on 27 September 2023.
Sai Silks (Kalamandir) IPO was subscribed 4.40x overall. QIB portion was subscribed 12.35x, HNI / NII 2.47x and Retail 0.88x.
IPO GMP started at Rs 15 on Day 1 and moved to Rs 15 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.