Mumbai :
Saraswati Saree Depot, a company specializing in the manufacture and wholesale of women’s clothing, is set to launch its initial public offering (IPO) on August 12.
The company aims to raise ₹160.01 crore through this public issue.
Saraswati Saree Depot operates two stores in Maharashtra—Kolhapur and Ulhasnagar—and generates over 90% of its revenue from sarees.
IPO Details
Below are the important details:
- Price Band: ₹152-160 per share
- Lot Size: 90 shares
- Bid Dates: August 12 to August 14
- Anchor Investor Bidding: August 9
- Share Allotment Date: August 16
Listing Date: August 20 (on BSE and NSE)
Grey Market Signals
Before the official IPO launch, Saraswati Saree Depot shares are trading at a premium of ₹35, or 21.88%,
over the upper price band of ₹160 in the grey market.
This suggests that the stock might list at around ₹195.
The grey market is an unofficial trading platform where shares are bought and sold before their official listing.
IPO Allocation
The IPO has the following reservation structure:
- 50% for Qualified Institutional Buyers (QIBs)
- 35% for Retail Investors
- 15% for Non-Institutional Investors
For more details, see below.
Financial Overview
In the financial year 2024, Saraswati Saree Depot reported revenue of ₹610.90 crore, up from ₹601.89 crore in FY 2023.
The company’s net profit increased to ₹29.53 crore from ₹22.97 crore in the previous year.
Utilization of IPO Proceeds
The IPO will involve:
- 65 lakh new shares raising ₹104 crore
- 35 lakh shares under an Offer for Sale (OFS) raising ₹56.02 crore
Proceeds from the new shares will be used for working capital requirements and general corporate purposes.
