Sai Silks Kalamandir’s initial public offering (IPO) has been subscribed 33% on the second day of its subscription period. The retail portion of the IPO was subscribed 26%, while the non-institutional investors’ portion saw a subscription of 27%, and the Qualified Institutional Buyers (QIB) portion was subscribed 51%.
The total number of shares bid for in the Sai Silks Kalamandir IPO reached 1,27,53,584 shares against the total offer of 3,84,86,309 shares, according to data from the BSE.
The company’s IPO comprises a fresh issuance of ₹600 crore worth of shares and an offer for sale (OFS) of up to 2.70 crore equity shares by the promoter and promoter group. The proceeds from the IPO will be used for various purposes, including expanding the company’s retail presence and working capital needs.
Sai Silks Kalamandir IPO’s share allotment is tentatively scheduled for Wednesday, September 27, with shares expected to be credited to investors’ Demat accounts on Tuesday, October 3. The IPO shares are set to be listed on both NSE and BSE on Wednesday, October 4.
In the grey market, Sai Silks Kalamandir IPO has been trading at a premium of ₹14, indicating strong demand for the shares. This premium suggests an estimated listing price of ₹236 per share, which is 6.31% higher than the IPO price of ₹222 per share.
The “grey market premium” reflects investors’ willingness to pay a premium above the IPO issue price, indicating positive sentiment surrounding the IPO.
