Silky Overseas Limited, a Haryana-based home textiles manufacturer, made a modest debut on the NSE SME platform on July 7, 2025. The stock opened at ₹171, registering a 6.21% premium over its issue price of ₹161, despite its IPO being oversubscribed nearly 170 times. The IPO aims to fund expansion, debt repayment, and corporate obligations.
Silky Overseas Limited, a textile manufacturing firm based in Gohana, Haryana, opened its stock at ₹171 per share on the NSE SME platform, registering a 6.21% premium over its IPO issue price of ₹161.
Founded in 2016, Silky Overseas Limited is known for its vertically integrated operations in the home textile sector. The company produces mink blankets, bed sheets, and comforters under its Rian Décor brand, catering to both domestic and Middle Eastern markets.
The company’s Initial Public Offering (IPO) was open from June 30 to July 2, and witnessed oversubscription of 169.93 times. Priced at ₹161 per share with a face value of ₹10, the IPO included a fresh equity issue worth ₹30.68 crore and had no offer-for-sale component.
The proceeds from the issue will be used to establish a new storage facility, prepay or repay certain loans, meet other financial liabilities, and cover general corporate expenses.
Gretex Corporate Services Limited served as the book-running lead manager, while Skyline Financial Services Private Ltd was the registrar. Gretex Share Broking Private Limited acted as the market maker.
In terms of financials, Silky Overseas reported a net profit of ₹917.07 lakhs for the ten months ending January 31, 2025. This marked a significant rise compared to ₹553.48 lakhs in FY 2024 and ₹98.22 lakhs in FY 2023.
The Grey Market Premium (GMP) for the stock stood at ₹21 before the listing, suggesting a possible debut around ₹182. However, it opened slightly lower, reflecting a declining trend in investor sentiment compared to peak GMP levels of ₹45 seen in prior sessions.
As per its red herring prospectus, the firm competes with industry players such as Welspun Living Ltd and Trident Ltd, which are trading at P/E ratios of 20.84 and 37.92, respectively.
