IPO
Ethnic apparel seller Sai Silks raises Rs.360-Cr from 26 anchor investors
Ethnic apparel retailer Sai Silks (Kalamandir) has raised over INR 360 crore from anchor investors days ahead of the launch of its initial public offering (IPO). The company has allotted 1.63 crore equity shares to 26 funds at INR 222 per share, which is also the upper end of the price band. At this price, the company raised INR 360.30 crore. Citigroup, BNP Paribas Arbitrage, Societe Generale, SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, UTI MF, Aditya Birla Sun Life MF, and WhiteOak MF are among the anchor investors. Out of 1.63 crore equity shares allocated to anchor investors, 1.17 crore equity shares were allocated to eight domestic mutual funds through a total of 16 schemes. The issue, with a price band of INR 210-222 per share, will open for public subscription on September 20 and conclude on September 22. At the upper end of the price band, the IPO will fetch about INR 1,201 crore.
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