Sai Silks Kalamandir Ltd. has received SEBI approval to raise funds through an IPO. The company’s brands include Kalamandir, Varamahalakshmi silks, KLM fashion Mall.
It had filed DRHP in the mid of July 2022 to raise ₹1,200 crore from the market. SSKL is one of the largest retailers of women’s ethnic wear, mainly sarees, in South India.
The company has declared ₹1,129 crore revenue and PAT of ₹57.69 crore in FY22 with ROE of 21.22% and ROCE of 21.71%. Sai Silks Kalamandir is the first large saree retailer to tap the markets to raise funds through IPO. It has recently reached a milestone of 50 stores.
