Depending on the lot size, investors will be able to apply in the issue with a minimum amount of Rs 14874. Retail investors can place a maximum bid of Rs 1,93,362
Next week another company is going to enter the market with its IPO. The issue of retailer Sai Silk will open on Wednesday next week. The company has today announced the price band regarding the issue. Let us tell you that Sai Silk is also known by the name of Kalamandir brand. The company offers traditional apparel. If you also want to invest in the retail sector then you can consider this issue. Read here all the special things related to the issue
What is the issue price?
The company has informed that it has fixed the issue price band for its issue at Rs 210 to Rs 222. Based on the upper levels, the company will try to raise Rs 1201 crore from the market. Investors can bid for a minimum of 67 shares in the issue and thereafter the bid can be increased in multiples of 67 only. Depending on the lot size, investors will be able to apply in the issue with a minimum amount of Rs 14874. Retail investors can place a maximum bid of Rs 1,93,362. 35 percent of the stock in the issue has been reserved for retail investors.
Note the important dates related to the issue
The IPO will open on September 20 and investors can submit their applications till September 22. It is estimated that the allotment of shares will be finalized by 27th September and the investors whose stocks will not be allotted will get their money refunded by 29th. Shares will be allotted to successful investors on 3 October. The stock will likely be listed on October 4.