Sai Silks Kalamandir’s Stock Soars 16.60% In Three Days
Ethnic apparel retailer Sai Silks Kalamandir entered the stock market with a resounding debut on September 26, 2023, garnering significant attention from investors. The company’s stock was listed at a premium price of Rs 231, marking a 4% increase over the issue price of Rs 222.
During its initial day of trading, Sai Silks Kalamandir witnessed a high of Rs 247.05 and closed at Rs 245 per share on the BSE. By the end of the week, on Friday, September 28, 2023, the company’s shares surged to Rs 259.10 and settled at Rs 253 per share, reflecting an impressive 16.60% gain within just three days of its stock market debut.
The company’s initial public offering (IPO) had attracted substantial investor interest during the subscription period. Notably, prominent investors such as SBI MF, Kotak MF, ICICI Prudential MF, HDFC MF, HSBC MF, Aditya Birla Sunlife MF, and UTI participated as anchor investors, as indicated in the circular.
Sai Silks Kalamandir also reported that SBI Mutual Fund, through various schemes, acquired 49,82,407 shares of the company, resulting in a holding exceeding 5% of the paid-up share capital. As of the close of business hours on September 27, 2023, SBI Mutual Fund held a total of 97,12,680 shares, equivalent to 6.33% of the paid-up share capital of the company.
