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HomeMarket NewsWealth Destroyer: Another recent listing down nearly 60% from IPO price; Growth guidance missed
After listing at a discount to its issue price, shares of Sai Silks Kalamandir have continued to decline from those levels, even falling below the mark of ₹100 in today's session.
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Shares of Sai Silks (Kalamandir) Ltd. declined 5% on Thursday, April 2, after the company reported its provisional update for the fourth quarter.
The company's revenue increased 5% to ₹419 crore from the previous year's ₹399 crore. This was lower than its guidance of 15% growth.
For the financial year 2026, the company's turnover increased 13% to ₹1,653 crore from ₹1,462 crore in the previous year. This is lower than the company's guidance of 15%.
In the financial year 2026, Sai Silks expanded its retail footprint with the launch of 13 new stores. With this, its total store network increased to 81 stores.
Shares of Sai Silk listed on the stock exchanges in September 2025 at a premium of 4% to its issue price of ₹222 per share.
The stock has now slipped below ₹100 apiece. It is down nearly 57% from its issue price.
The stock declined 5.1% on Wednesday to hit an intraday low of ₹96.13 apiece. The stock was down 4% at ₹97.3 apiece at 2.20 pm. It has declined 36.6% this year, so far.
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