Avinash karn
IPO Update: There is exciting news for those investing in IPO i.e. Initial Public Offering. Soon a new IPO is going to come in the market. Sai Silks, Kalamandir (Sai Silks, Kalamandir), a company doing clothing business. This company deals in ethnic wear i.e. traditional clothes in South India. Recently, the company went to the market regulator Securities and Exchange Board of India ie SEBI to release its IPO in the market (IPO Update). SEBI has given permission to the company to offer IPO. Sai Silks has set a target of raising up to Rs 1200 crore in the market through IPO.
Let’s know the details of IPO
According to the documents submitted to SEBI, Sai Silks, Kalamandir will issue new shares worth Rs 600 each through this IPO. Apart from this, the company will also sell its promoters’ shares in the market. In this, 18,048,440 equity shares will be sold through the offer for sale (OFS).
What will the company do with the IPO money?
SEBI has approved the IPO of Sai Silks, a Kalamandir ethnic wear company, on 15 November 2022. Through this, the company will add a total of Rs 1200 crore. With this money, the company will increase the number of its stores. The company has informed SEBI that it will open a total of 25 stores with this money. Along with this, 2 new godowns will be built. Along with this, efforts will be made to meet the working capital requirements of the company with these funds. At present, the company has a total of 50 stores across the country, out of which the maximum number of stores are in South India.
IPO of KFin Technologies will also come soon in the market
Apart from the IPO of Sai Silks, Kalamandir, soon KFin Technologies, a company of Financial Services Platform, is also going to launch its IPO. This company has also got the approval of IPO from the market regulator SEBI. The company had applied to SEBI in March 2022 this year to bring an IPO. The company has set a target of collecting a total of Rs 2400 through this IPO.
In this IPO, the money will be raised entirely through offer for sale and there will be no fresh issue. The promoters of the company, General Atlantic Singapore Fund, are going to sell their stake. In such a situation, whatever money will be raised from the IPO will not come to the company but will go to the promoter.
