Saraswati Saree Depot IPO: Saraswati Saree Depot Limited’s first public offering (IPO) is scheduled for August 20, 2024. This means that Saraswati Saree Depot shares will be available for trading starting at 10:00 a.m. on Tuesday. According to the BSE website, beginning Tuesday, August 20, 2024, the equity shares of Saraswati Saree Depot will be listed and admitted to trading on the Exchange under the ‘T’ group of securities.
According to stock market experts, Saraswati Saree Depot’s IPO received a positive response from primary market investors. Saraswati Saree Depot shares may list at ₹200 to ₹210 per equity share, potentially resulting in a 30% listing gain for allottees. The grey market predicts solid returns for allottees on the Saraswati Saree Depot IPO listing date. Saraswati Saree Depot’s GMP (grey market premium) is currently ₹48, as reported by stock market experts.
Price prediction for Saraswati Saree Depot’s IPO listing
Akriti Mehrotra, Research Analyst at Stoxbox, commented on the Saraswati Saree Depot IPO listing, saying, “Saraswati Saree Depot Ltd. (SSDL) is likely to make a solid market debut on Tuesday after garnering an enormous response during its subscription period. The company is expected to be listed with a 20% to 25% premium. Saraswati Saree Depot Ltd. (SSDL) provides a one-of-a-kind investment opportunity through its well-established B2B saree wholesale company, which supports a broad network of semi-wholesaler and retailer. The company’s focus on sarees, combined with its successful diversification into kurtis, dress fabrics, and men’s suiting, has resulted in significant sales and profitability growth.”
When asked about the predicted Saraswati Saree Depot IPO listing price, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, stated, “The company’s mainline business is the wholesale (B2B) segment of sarees.” It also sells a variety of women’s clothes, including as bottoms, lehengas, kurtis, dress materials, and blouses. Saree sales account for 90% of revenue, with the remainder coming from Kurti, dress material, other clothes, and related products. Based on annualized earnings for FY24, the issue appears to be fully priced. We anticipate a listing of roughly ₹200 to ₹210 per share.”
Saraswati Saree Depot’s IPO GMP today
Saraswati Saree Depot Limited shares currently trade at a premium of ₹48 in the grey market, according to stock market experts. According to the grey market, the Saraswati Saree Depot IPO listing price is expected to be around ₹208 (₹160 + ₹48), which is approximately 30% more than the upper price band.
Saraswati Saree Depot’s IPO information
The Saraswati Saree Depot IPO shares were allotted on Friday, August 16, 2024, with a price band of Rs 152-160 per share and a lot size of 90 shares. Saraswati Saree Depot’s IPO included a fresh issue of 6,499,800 shares worth about Rs 104 crore and an offer for sale (OFS) of 3,501,000 shares having a face value of Rs 10 each, totaling approximately Rs 56.02 crore. The public offering was well-received by investors, with 107.39 times subscribed by the final day of subscription.
According to the RHP documents, Saraswati Saree Depot would use the net proceeds of the public offering to support working capital requirements as well as general company objectives.
About Saraswati Saree Depot
Saraswati Saree Depot Limited is a top manufacturer and wholesaler of women’s clothes, specializing in sarees and other traditional garments. They source products from over 900 weavers and suppliers across India, resulting in a massive collection of over 300,000 SKU. The company primarily operates in the B2B area, with a diverse customer base.
