Silky Overseas Limited IPO

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Silky Overseas Limited, originally incorporated as Silky Overseas Private Limited on May 1, 2016, transitioned to a public limited company on November 7, 2023. Headquartered in Delhi, with its manufacturing facility located in Sonipat, Haryana, the company is engaged in the manufacturing and trading of high-quality home furnishing products, including blankets, comforters, bedsheets, and curtains.

Core Business Operations

Silky Overseas specializes in the integrated manufacturing of a wide range of bedding and home textile products, with operations spanning knitting, dyeing, processing, printing, and packaging—all under one roof. This vertical integration enables consistent product quality, greater efficiency, and scalability.

Key product categories include:

i) Mink Blankets (single and double ply, available in varied sizes and weights, including baby blankets)
ii) Comforters (filled with synthetic fibers or down, available in multiple stitching patterns and warmth levels).
iii) Bedsheets (fitted, flat, and top sheets in various materials and sizes)
iv) Curtains (sheer, blackout, thermal, and decorative types for light control, privacy, and insulation)

The company also trades knitted and crocheted fabrics, sourced from Panipat’s textile markets, which are used in products like tablecloths, rugs, pillow covers, and wall hangings.

Business Model & Market Reach

Silky Overseas operates a dual revenue model, comprising:

i) Manufacturing-to-order (B2B) for bulk buyers including retailers and wholesalers.
ii) Trading of ready products sourced locally and sold directly without modification.

Sales channels include:

– Offline Platforms: Participation in trade fairs and direct factory sales (primarily from Panipat).
– Online Platforms: Strong presence on Flipkart, Amazon, Ajio, Snapdeal, Walmart, and Meesho.
– Own E-commerce Portal: www.silkyoverseas.com, optimized for SEO and customer interaction.

 A key highlight is the sale of over 40,000 blankets via Flipkart alone.

Manufacturing Infrastructure

The manufacturing unit in Village Jawahara, Sonipat, is equipped with:

a) Facilities for raw material storage, production, and finished goods warehousing.
b) Easy access to transportation and logistics, aiding nationwide and export delivery.

Strategic Focus & Growth Plans

i) Diversify its product portfolio beyond blankets to include comforters, bedsheets, and curtains.
ii) Expand its B2C and D2C presence via e-commerce and digital marketing.
iii) Strengthen its distribution network in states like Haryana, West Bengal, Assam, Punjab, Bihar, and Delhi.
iv) Continuously innovate designs and upgrade quality standards to cater to evolving consumer preferences.

Objects of the Silky Overseas Limited IPO:

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects: a) Setting up of Additional Storage Facility (₹4.29 cr) b) Repayment/Pre-payment of Certain Debt Facilities (₹3.54 cr) c) Working Capital Requirements (₹37.18 cr) d) General Corporate Purposes

Silky Overseas Limited IPO Details:

Open Date: Jun 30 2025
Close Date: Jul 02 2025
Total Shares: 19,05,600
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 30.68 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 153-161 Per Equity Share
Listing At: NSE Emerge

Promoters And Management:

1. Mr. Sawar Mal Goyal, Promoter & Chairman and Managing Director, aged 62, is the Promoter and Chairman & Managing Director of the Company, serving a five-year term from June 11, 2024, to June 10, 2029. He has been a Director since the Company’s incorporation on May 1, 2016. With over 15 years of business experience, including work in the stainless steel industry and roles at Ananya Foils Pvt. Ltd. and Goyal Impex, he has played a pivotal role in the company’s growth and strategic development since inception. 2. Mr. Ananya Goyal, Promoter & Whole-Time Director, aged 30, is the Promoter and Whole-Time Director of the Company. Appointed as Director on May 1, 2016, he began his five-year term as Whole-Time Director on June 11, 2024. A B.Sc. (Hons) Business and Management graduate (2015), he brings 8+ years of experience from AIESEC, Waxpol Industries, and ICICI Prudential. He oversees daily operations, manufacturing, procurement, client relations, budgeting, and strategic execution. 3. Ms. Shweta Bansal, aged 41, is an Independent Director of the Company since October 19, 2023. A B.Com (Hons) graduate from Delhi University and a Fellow Member of ICSI, she has 8 years of experience in corporate legal and secretarial roles, having worked with Gateway Rail Freight Ltd. and RRB Energy Ltd. She brings valuable governance and compliance expertise to the Board.

Financials of Silky Overseas Limited IPO:

Particulars 10M FY2024-25 FY 2023-24 FY 2022-2023 FY 2021-2022
Revenue from Operations 105.01 69.7 68.3 50.12
EBITDA 15.08 11.01 5.35 2.96
EBITDA Margins 14.36% 15.80% 7.83% 5.92%
PAT 9.17 5.53 0.98 0.41
PAT Margins 8.73% 7.94% 1.44% -0.83%
ROCE 45.12% 39.54% 30.95% 10.09%
Debt to Equity Ratio(In Times) 0.85 1.7 6.25 8.63
Operating Cash Flows 6.85 -0.1 3.62 0.808

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins D/E Ratio MCap (in cr) P/E
Silky Overseas Limited(FY24) 69.7 15.80% 7.94% 1.7 102.51 18.54
Welspun Living Limited(FY25) 10,545 12% 6.11% 0.57 13,814 21.6
Trident Limited(FY25) 6987 13.00% 5.31% 0.35 15,981 43.2
NOTE: Forward P/E is 9.31 on the basis of FY 25 PAT

Lead Manager of Silky Overseas Limited IPO:

  1. Gretex Corporate Services Private Limited

Registrar of Silky Overseas Limited IPO:

  1. Skyline Financial Services Private Ltd

Discussion on Silky Overseas Limited IPO:

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