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Sai Silks (Kalamandir) Ltd. may not be able to weave expected funds out of its IPO, feels Ganesha

Sai Silks (Kalamandir) Ltd. may not be able to weave expected funds out of its IPO, feels Ganesha

The Sai Silks (Kalamandir) Limited, which was originally established as Sai Silks on August 10, 2005, are a specialist in traditional silk and handloom sarees and have branched out in some other segments, such as men’s wear, children wear and jewellery. The company got its present name on March 4, 2008, and was converted into a private limited company on July 3, 2008. The fresh certificate of incorporation consequent upon change of name was issued on May 21, 2009. At present, the company operates fifteen stores in the Southern India and has been doing quite well. The company is part of the booming Indian textile and apparel industry, an industry that is expected to grow at a CAGR of 9.5% to reach Rs. 10,50,000 cr from 4,18,000 cr (in 2011) by the year 2021.

The Sail Silks (Kalamandir) Limited recently issued its IPO (Initial Public Offering). Has these been a good decision? Will the organisation manage to generate a good amount of funds? What else is in store for the company? Ganesha analyses the company’s Surya Kundali. and finds out what is in store for Sai Silks (Kalamandir) Limited.

Issue Detail:

  • Issue Open: Feb 11, 2013 – Feb 13, 2013
  • Issue Type: 100% Book Built Issue IPO
  • Issue Size: Equity Shares of Rs. 10
  • Issue Size: Rs. 89.00 Crore
  • Face Value: Rs. 10 Per Equity Share
  • Issue Price: Rs. 70 – Rs. 75 Per Equity Share
  • Market Lot: 200 Shares
  • Minimum Order Quantity: 200 Shares
  • Listing At: BSE, NSE

Astrological Analysis:
Ganesha analyses the Surya Kundli ofSai Silks (Kalamandir) Limited and shares some interesting findings.

  • Moon is in conjunction with Venus and Mars in the 11th House, whereas Mercury, the Lord of the 2nd House of Finance and the 5th House of Investment, is in a retrograde motion in the Ascendant. Besides, Jupiter, the Lord of the 11th House, is posited in the 10th House of Business and the malefic Rahu is posited in the 9th House.
  • At present, malefic Ketu is passing through the 12th House. Hence, till the end of August 2014, the company is likely to face some financial stress. Ganesha gives 2.5 out of 5 on the grading scale, as far as the response of the company would get for its IPO, and says that it would not be able to generate expected funds.
  • From 25th June 2013 onwards, the company will be under the influence of Mars sub-period. Mars signifies garments and fabrics. Hence, Ganesha predicts that the company may expand its products catalogue and may also deal in varieties of fabrics in next two years.
  • Natal Rahu is posited in the 9th House of Fortune and is currently transiting through the 6th House. Plus, Jupiter will be passing through the 2nd House of wealth. Hence, company will be planning to set up new retail outlets during the first half of 2014. However, it would also have to go beyond Andhra Pradesh in order to achieve maximum growth.

We wish them luck.

With Ganesha’s Grace,
Tanmay K.Thakar,
The GaneshaSpeaks Team