Sai Silks (Kalamandir) Ltd., a retailer of sarees, filed a draft pink herring prospectus for an preliminary public providing.
The IPO includes a contemporary concern of as much as Rs 600 crore and a suggestion on the market for as much as 1.8 crore of fairness shares, in accordance with its submitting.
The guide operating lead managers to the IPO are Motilal Oswal Funding Advisors Ltd., Edelweiss Monetary Companies Ltd., and HDFC Financial institution Ltd.
Sai Silks, promoted by Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi, is a retailer of ethnic attire, significantly sarees, in south India.
The operator of Kalamandir retail shops proposes to utilise the web proceeds of the contemporary Difficulty to arrange of 25 new shops, capital expenditure in the direction of establishing of two warehouses, working capital necessities, compensation or pre-payment of debt in full or half, and common company functions.