Silky Overseas Limited, a bedding product manufacturer with an integrated production facility, launched its Initial Public Offering (IPO) to raise ₹30.68 Crores via a 100% fresh issue of 19.05 lakh equity shares. This book-built issue opened for subscription from June 30, 2025, to July 2, 2025, and is expected to be listed on the NSE SME platform by July 7, 2025.

The IPO is managed by Gretex Corporate Services Ltd., with Skyline Financial Services Pvt. Ltd. as registrar and Gretex Share Broking Ltd. as market maker.

Key Issue Details:

• Price Band: ₹153 to ₹161 per share

• Lot Size: 800 shares

• Retail Investment Minimum: ₹1,28,800

• HNI Investment Minimum: ₹2,57,600 (2 lots)

• Post-issue Market Cap: ₹102.51 Crores at upper price band

Grey Market Premium (GMP): ₹0

As of June 25, 2025, the GMP stands at ₹0, indicating no anticipated listing gain. The expected listing price remains at ₹161, mirroring the issue price, suggesting a flat debut unless market sentiment shifts.

Live Subscription Status (as of July 2, 2025, 11:00 AM)

The IPO was subscribed 1.21 times, which confirms successful closure but indicates limited investor enthusiasm, especially from the retail segment.

Anchor Investor Participation

Silky Overseas raised ₹7.67 Crores from Anchor Investors, allocating 4,76,800 equity shares at ₹161. Although this reflects institutional interest, it hasn’t impacted grey market enthusiasm or speculative demand.

How to Check IPO Allotment (July 3, 2025)

Investors can verify allotment status via the registrar’s website. Here’s how:

1. Visit Skyline Financial Services IPO status page

2. Select “Silky Overseas Limited IPO”

3. Enter your PAN, Application Number, or DP ID

4. Submit and view your allotment result

IPO Objectives: Fund Allocation

The net proceeds will be used for:

• ₹429.96 Lakhs – Construction of an additional storage facility

• ₹354.52 Lakhs – Repayment/pre-payment of debt

• ₹3,718.29 Lakhs – Working capital needs

• Balance funds – General corporate purposes

This capital infusion is aimed at improving operational readiness, reducing financial leverage, and enabling expansion.

About the Company

Silky Overseas specializes in manufacturing and supplying bedding items such as blankets, bed sheets, comforters, and related products. Their USP lies in an integrated manufacturing setup that consolidates all major processes including:

• Knitting

• Dyeing

• Processing

• Printing

• Packaging

This enables cost efficiency, consistency, and large-scale production, aligning with B2B and export demands.

Promoter Background:

• Mr. Sawar Mal Goyal – Over 15 years in business and early experience in the stainless steel sector

• Mr. Ananya Goyal – 8+ years across reputed firms like AIESEC, Waxpol Industries, and ICICI Prudential

Financial Performance Snapshot

The company has transformed from a loss-making entity in FY22 to a profitable venture in FY24 and FY25, highlighting improved operational management and financial efficiency.

Valuation and Metrics

While the post-issue P/E appears slightly stretched, the annualized P/E is lower, and return ratios are robust, suggesting efficient capital usage.

IPO Verdict: Avoid for Listing Gain

Despite its strong revenue growth, operational efficiency, and healthy margins, the lack of Grey Market Premium and only moderate subscription levels make Silky Overseas IPO unsuitable for short-term listing gains.

Consider only if:

• You are a long-term investor

• You believe in the growth story of the home textiles sector

• You are comfortable with SME segment risks (liquidity, volatility, and limited analyst coverage)

Disclaimer:

This review is for informational and educational purposes only and should not be considered investment advice. Investors should consult a SEBI-registered financial advisor before making any investment decisions. Markets are subject to risks, and IPO performance can vary post-listing. The views expressed are based on public disclosures as of the date of publication and may change.

The Upcoming IPOs in this week and coming weeks are Smarten Power Systems, Glen Industries, Travel Food Services, Anthem Biosciences, Chemkart India, Meta Infotech, Happy Square Outsourcing Services, Cryogenic OGS.

The Current active IPO are Crizac, Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Marc Loire Fashions.

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