Sai Silks (Kalamandir) IPO
Sai Silks (Kalamandir) Limited (KALAMANDIR) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 27 September 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +1.1% (likely range -6% to +2%), day's high +3.8%, chance of a gain 51%. Actual: +4.0% at the open, +11.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,06,64,594 | 13,16,79,656 | 12.3x | |
| NII (HNI) total | 83,46,515 | 2,06,25,481 | 2.47x | |
| Big NII (above ₹10 lakh) | 55,64,343 | 1,63,87,195 | 2.94x | |
| Small NII (₹2-10 lakh) | 27,82,172 | 42,38,286 | 1.52x | |
| Retail | 1,94,75,200 | 1,71,53,407 | 0.88x | |
| Total | 3,84,86,309 | 16,94,58,544 | 4.40x |
Bids on NSE and BSE together, as published by NSE, as of 22 Sep 2023, 07:00 PM. Shares offered exclude the anchor portion. 8% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Sai Silks (Kalamandir)'s, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Varroc EngineeringJun 2018 | 9.16x | 2.45x | 0.95x | 3.59x | ₹1,955 Cr | +5.0% | +9.8% |
| Metro BrandsDec 2021 | 8.49x | 3.02x | 1.13x | 3.64x | ₹1,368 Cr | -12.6% | +1.6% |
| Laurus LabsDec 2016 | 10.5x | 3.58x | 1.67x | 4.57x | ₹1,334 Cr | +14.5% | +16.4% |
| Vijaya Diagnostic CentreSep 2021 | 13.1x | 1.32x | 1.09x | 4.54x | ₹1,895 Cr | +1.7% | +22.0% |
| Aether IndustriesMay 2022 | 17.6x | 2.52x | 1.14x | 6.26x | ₹865 Cr | +9.7% | +20.6% |
| Sheela FoamDec 2016 | 14.5x | 3.35x | 0.44x | 5.09x | ₹548 Cr | +17.8% | +41.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| HDFC Bank | 16 | +15.8% | 75% |
| Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) | 35 | +11.9% | 66% |
Offer documents (NSE)
Frequently asked
What is the Sai Silks (Kalamandir) IPO price band and lot size? ₹210–222 per share, with a lot of 67 shares, so the smallest retail bid is ₹14,874.
How many times has it been subscribed? 4.40x overall: QIB 12.3x, NII 2.47x, retail 0.88x.
How did it list? It opened at ₹231, +4.0% against the issue price of ₹222, and closed its first day +10.3%.
