Last week, Saraswati Saree Depot opened its Initial Public Offering (IPO) before getting listed on the stock market.
Today, the company’s IPO has officially been listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The shares of Saraswati Saree Depot have been listed with a 25 percent premium. On the BSE, the shares were listed at Rs 200 per share.
After listing, the stock price increased by 31.21 percent, trading at Rs 209.95 per share.
On the NSE, the shares were listed at Rs 194 per share, up by 21.25 percent. Following this rise, the company’s market capitalization reached Rs 831.40 crore.
Strong Market Response
Market experts noted that the IPO’s listing exceeded expectations, as they initially predicted a listing price between Rs 200 and Rs 210.
The price band for the Saraswati Saree Depot IPO was set at Rs 152-160 per share, with a lot size of 90 shares, meaning investors had to bid for at least 90 shares.
The IPO received an overwhelmingly positive response from investors, with the offering being subscribed 107.39 times.
The IPO was open from August 12 to August 14.
Market Experts on IPO Performance
Market experts are pleased with the IPO’s performance, noting that it exceeded expectations.
They initially expected the shares to be listed between Rs 200 and Rs 210.
The Saraswati Saree Depot IPO had a price band set between Rs 152 and Rs 160 per share, with a lot size of 90 shares, meaning investors had to bid for at least 90 shares.
The IPO received an overwhelming response, being subscribed 107.39 times by the closing day.
The IPO was open for bidding from August 12 to August 14.
