Saraswati Saree Depot IPO: Saraswati Saree Depot Limited’s initial public offering (IPO) was launched in the Indian primary market today. According to the schedule on the BSE and NSE websites, the Saraswati Saree Depot IPO subscription will be open until 14 August 2024. As a result, the public offering will be open for bids from Monday to Wednesday this week. Saraswati Saree Depot has set a price band of ₹152 to ₹160 per equity share for its IPO.
Saraswati Saree Depot’s IPO has been submitted for listing on the BSE and NSE. The company hopes to raise 160.01 crore through its maiden offer, with ₹104 crore coming from fresh shares. Meanwhile, shares of Saraswati Saree Depot are trading in the grey market ahead of the company’s IPO. Saraswati Saree Depot IPO’s grey market premium (GMP) is currently ₹34, according to stock market experts.
Saraswati Saree Depot IPO subscription status
On the first day of bidding, at 3:00 PM, the public issue had been booked 3.03 times, the retail portion of the book build issue had been booked 4.04 times, and the NII segment had been subscribed 6.87 times. The QIB component of the public offering was likewise completely subscribed.
Saraswati Saree Depot Offical Website: Click Here
Important Saraswati Saree Depot IPO Details
1. According to market experts, Saraswati Saree Depot’s shares are currently trading at a premium of ₹34 in the grey market.
2. Saraswati Saree Depot’s initial public offering (IPO) is priced between ₹152 and ₹160.
3. Saraswati Saree Depot IPO date: The public issue will be open for bids from August 12 to 14, 2024.
4. Saraswati Saree Depot IPO size: The business plans to raise ₹160.01 crore, with ₹104 crore for new issues. The remaining ₹56.01 crore is earmarked for the offer for sale (OFS).
5. Saraswati Saree Depot IPO lot size: Bidders can apply in lots, with one lot of the book build issue containing 90 company shares.
6. Saraswati Saree Depot IPO date: Shares will most likely be allocated on Friday, August 16th, 2024.
7. Saraswati Saree Depot IPO registrar: Bigshare Services Private Limited has been named the official registrant for the mainboard IPO.
8. Saraswati Saree Depot IPO listing date: Due to the ‘T+3’ listing rule, the first offering may be listed on August 20, 2024, i.e. next Tuesday.
9. Unistone Capital Private Limited has been designated as the Saraswati Saree Depot IPO’s lead manager.
Saraswati Saree Depot Initial Public Offering: Should I Apply?
10. Saraswati Saree Depot IPO review: Giving a’subscribe’ tag to the public issue, Akriti Mehrotra, Research Analyst at StoxBox, said, “Saraswati Saree Depot Ltd. (SSDL) offers a unique investment opportunity with its well-established B2B saree wholesale business, which serves a large network of semi-wholesalers and retailers. The company’s focus on sarees, combined with successful expansion into kurtis, dress fabrics, and men’s suits, has resulted in significant revenue and profitability growth. SSDL’s proactive inventory management strategies, development into men’s ethnic wear, and a rising e-commerce platform are projected to fuel future growth.
Ventura Securities has also awarded a’subscribe’ tag to the public offering, stating that “Financially, SSDL has shown consistent growth over the years.” In FY24, the company’s total revenues exceeded INR 6,000 mn, a considerable rise from INR 4,094 million in FY21. The company’s PAT has also increased significantly, from INR 34.51 million in FY14 to INR 126.12 million in FY21, representing a CAGR of 20.34%. As SSDL prepares for its future IPO, with an offer size of roughly INR 1,600 million, it intends to use this capital to cover working capital requirements and other business reasons, positioning itself for further expansion and market supremacy.”
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