Textile retailer Sai Silks, which is making a debut in the capital market with an IPO to raise Rs 89 crore on February 11, will be using a bulk of the proceeds to expand its retail network and for working capital needs.

The company is following a book building process and the price band has been fixed in the range of Rs 70 to Rs 75 a share.The IPO will be second one on the BSE to have the safety net scheme, in which the promoters will buy back shares from retail individual investors.


(This article was published on February 5, 2013)
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