Sai Silks (Kalamandir) Limited, originally established as a partnership firm in 2005, has evolved into a prominent public limited company known for its diverse retail offerings. Under the leadership of Nagakanaka Durga Prasad Chalavadi, the company caters to a wide range of market segments through its four store formats: Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall. These brands serve premium ethnic fashion, middle-income ethnic fashion, and value-fashion markets. Sai Silks expanded from its first store in Ameerpet, Hyderabad to a network of 46 stores across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu.
The company's growth strategy included acquiring I-ONE Investments Private Limited in 2016 and later the assets of Sai Retail India Limited in 2022. It plans to raise Rs. 600 crore through a fresh equity issue and an offer for sale of over 18 million shares, indicating its ongoing expansion and commitment to enhancing its market presence.
