Sai Silks (Kalamandir) saw its shares debut at a premium of 4% on the NSE and 3.6% on the BSE. The company, one of the top 10 ethnic apparel retailers in South India, recently completed its IPO, which was subscribed 4.47 times. Sai Silks plans to use the proceeds to expand its store network, set up new warehouses, and repay debt. The women s apparel market in India is expected to grow at a CAGR of 21.1% over the next five years.
Sai Silks IPO listing: On the National Stock Exchange (NSE), Sai Silks Kalamandir's share price opened at Rs 231 per share, just 4.1 per cent per cent higher than the IPO issue price of Rs 222.