Sai Silks (Kalamandir) Ltd

(KALAMANDIR)

The business was started as a Partnership Firm under the name of Sai Silks on August 10 2005 with Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi as its Partners. Subsequently name of Partnership Firm was changed to Sai Silks Kalamandir on March 4 2008 to incorporate the brand name and further converted into a Private Limited Company vide Certificate of Incorporation dated July 3 2008 under the name and style of Sai Silks Kalamandir Private Limited from the Registrar of Companies Andhra Pradesh at Hyderabad. The Company was further converted into a Public Limited Company on May 21 2009 and consequently name of Company was changed to Sai Silks Kalamandir Limited.Through its four store formats Kalamandir VaraMahalakshmi Silks Mandir and KLM Fashion Mall the Company offer products to various market segments including premium ethnic fashion ethnic fashion for middle income and valuefashion.The business was founded by Nagakanaka Durga Prasad Chalavadi a first generation entrepreneur. The Company established its first retail store outlet in Ameerpet Hyderabad in 2005 and merely operated to 46 stores in Southern India States of Andhra Pradesh Telangana Karnataka and Tamil Nadu. In 2011 it introduced Varamahalakshmi retail store in Chickpet Bengaluru and further opened a retail store Mandir in Banjara Hills Hyderabad. On August 18 2016 the High Court of Hyderabad sanctioned the amalgamation of IONE Investments Private Limited Transferor Company with the Company Transferee Company from October 1 2015 as the Appointed Date. Accordingly the SSKL Scheme was taken up and implemented to acquire the brand Kalamandir and consequently the entire business undertaking of IONE Investments Private Limited were transferred to and vested into the Company as a going concern.The Company had entered into a Suppliers Agreement with Sai Retail India Limited SRIL dated April 1 2017 for the purchase of apparel products from Sai Retail India Limited. As a result of discontinuation in business the Company later acquired the business assets of Sai Retail India Limited with effect from April 1 2022. It expanded the brand KLM Fashion Mall to 18 stores with the first store launched in 2017.The Company is proposing a fresh issue of equity shares aggregating upto Rs. 600 crore and an offer for sale of upto 18048440 equity shares through Public Offer..

Share Price: ₹179.47 per share as on 06 Sep, 2024 04:01 PM
Market Capitalisation: ₹2,745.25Cr as of today
Listing date: 27 Sep, 2023
Chairperson Name: Ravindra Vikram Mamidipudi