Saraswati IPO: The initial public offering (IPO) of Saraswati Saree Depot Ltd, which was open for public subscription between August 12 and August 14, received a whopping 107.39 times subscription. The share allotment of the 160.01-crore SME IPO will be finalised today, in the evening. According to market observers, the IPO is likely to give about 30 per cent listing gains as per the latest GMP.
The IPO received bids for 1,07,39,64,600 shares as against 10,000,800 shares on offer. The price band of the IPO was fixed at Rs 152-160 per share.
The retail quota received a 61.59 times subscription, while the non-institutional investors category also got a 358.47 times subscription. The QIB (qualified institutional buyers) category has been subscribed 64.12 times.
The listing of the Saraswati Saree Depot IPO will take place on the NSE SME on August 20.
Saraswati Saree Depot IPO: How to Check Allotment Status?
Once the IPO is allotted, the status can be checked by following these steps:
Step 1: Visit Bigshare Services Pvt Ltd’s portal.
Step 2: Select IPO Name ‘Saraswati Saree Depot Limited’ from the drop-down menu.
Step 3: In the ‘Selection Type’ drop-down, choose any one among — ‘application number/ CAF number’, ‘beneficiary ID’ or ‘PAN number’.
Step 4: Enter PAN number, application number or beneficiary ID.
Step 5: Enter Captcha
Step 6: Click on ‘Search’ Button
Now, your Saraswati Saree Depot IPO allotment status will be displayed on the screen.
Saraswati Saree Depot IPO GMP Today
According to market observers, unlisted shares of Saraswati Saree Depot Ltd are trading Rs 48 higher in the grey market than its issue price. The Rs 48 grey market premium or GMP means the grey market is expecting a 30 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Saraswati Saree Depot IPO: More Details
Saraswati Saree Depot Limited, which was founded in 1996, is engaged in manufacturing and wholesale women’s apparel. Its primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women’s apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.
The Rs 160.01-crore Saraswati Saree Depot IPO comprises a fresh issue of 0.65 crore shares aggregating to Rs 104.00 crore and an offer for sale (OFS) of 0.35 crore shares aggregating to Rs 56.02 crore.
Investors need to apply for a minimum of 90 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 14,400 [90 (lot size) x Rs 160 (upper price band)].
Unistone Capital Pvt Ltd is the book running lead manager of the Saraswati Saree Depot IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Saraswati Saree Depot’s revenue rose 2 per cent, while its profit after tax (PAT) jumped 29 per cent during the financial year 2023-24.
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