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Sai Silks (Kalamandir) has debuted at Rs 230.10 on the BSE, up by 8.10 points or 3.65% from its issue price of Rs 222.

The scrip is currently trading at Rs 241.10, up by 19.10 points or 8.60% from its issue price. It has touched a high and low of Rs 241.40 and Rs 230.10 respectively. So far 6.55 lakh shares were traded on the counter.

The offering, which was open for subscription between September 20, 2023 and September 22, 2023 was subscribed only 4.47 times. The issue price was fixed at Rs 222 per share i.e. at upper end of price band of Rs 210-222 apiece.

Sai Silks is one of the leading retailers of ethnic apparel, particularly sarees, in south India. Through its four store formats -- Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall -- the company offers products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income, and value fashion.