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Blankets, Profits & One Red Flag
🟣 1. At a Glance
Silky Overseas Ltd is wrapping investors in warm profit blankets with a ₹30.68 Cr SME IPO. Revenue and PAT have surged—but so has skepticism. With a P/E of 9.3x and anchor interest of ₹7.68 Cr, the IPO looks cozy. But is the growth too soft to trust?
🔥 2. The Hook – Mink Blankets, Margins, and a Mystery
A textile SME from Haryana selling mink blankets and comforters is doing ₹100 Cr+ revenue with ₹9 Cr PAT. And now, it wants your ₹1.28 lakh for 800 shares.
The IPO feels profitable. It has anchor investors. It’s priced at 9.3x P/E. So what’s the catch? Why is only 0.11x subscribed on Day 1?
Let’s pull the covers.
🧵 3. WTF Do They Even Do? (Business Model)
Silky Overseas Ltd is a home textile manufacturer based in Gohana, Haryana. They own the Rian Décor brand and specialize in:
🧸 Mink Blankets 🛏️ Bed Sheets 🥶 Comforters
They run a fully integrated factory – from knitting → dyeing → printing → packing – and claim export presence (esp. Middle East). It’s one of those companies where everything sounds fine…
…until you start reading between the thread count.
