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February 03, 2013

Deal Alert: Sai Silks to raise Rs.89-Cr via IPO

Hyderabad-based jewelry and textile player Sai Silks (Kalamandir) is planning to enter the capital market towards the end of February to raise Rs.89 crore. The proceeds will be used to fund the company’s expansion programs and meet working capital needs. 

As of March 31, 2012, Sai Silks had a net worth of Rs.47.65 crore with total revenue of Rs.262.76 crore and net profit of Rs.11.69 crore. The proposed issue will be made through the 100% book building process, wherein 10% is scheduled to be allocated on proportionate basis to QIBs. The book running lead managers to the issue are Ashika Capital and Vivro Financial Services. 

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