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.

amitmitra@thehindu.co.in

(This article was published on February 5, 2013)
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