Apparel retailer Sai Silks (Kalamandir) to file for Rs.1,200-Cr IPO

Sai Silks (Kalamandir), a Hyderabad-based apparel retailer, is planning to file draft documents with the Securities and Exchange Board of India (Sebi) for an initial public offering. The company plans to raise INR 1,000-1,200 crore through the share sale. Motilal Oswal Financial, Edelweiss and HDFC Bank have been appointed as the bankers for the IPO. The company intends to use the IPO proceeds to expand. Sai Silks had a network of 45 retail outlets across south India as of September 30, 2021. Its flagship brand Kalamandir has stores in Telangana, Andhra Pradesh, and Karnataka.