The Saraswati Saree Depot IPO is a book-built issue worth Rs 160.01 crores. It includes a fresh issue of 0.65 crore shares totaling Rs 104.00 crores and an offer for sale of 0.35 crore shares totaling Rs 56.02 crores.
The IPO will be open for subscription from August 12, 2024, to August 14, 2024. The allotment is expected to be finalized on Friday, August 16, 2024, with the listing on BSE and NSE tentatively scheduled for Tuesday, August 20, 2024.
The IPO price band is set between ₹152 and ₹160 per share.
- Book Running Lead Manager – Unistone Capital Pvt. Ltd.
- Registrar – Bigshare Services Pvt. Ltd.
Below are the details of Saraswati Saree Depot Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Saraswati Saree Depot IPO Details
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹152 to ₹160 per share |
| Lot Size | |
| Total Issue Size | 10,000,800 shares (aggregating up to ₹160.01 Cr) |
| Fresh Issue | 6,499,800 shares (aggregating up to ₹104.00 Cr) |
| Offer for Sale | 3,501,000 shares of ₹10 (aggregating up to ₹56.02 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 33,100,000 |
| Share holding post issue | 39,599,800 |
Saraswati Saree Depot Limited IPO Timeline
| IPO Open Date | Monday, August 12, 2024 |
| IPO Close Date | Wednesday, August 14, 2024 |
| Basis of Allotment | Friday, August 16, 2024 |
| Initiation of Refunds | Monday, August 19, 2024 |
| Credit of Shares to Demat | Monday, August 19, 2024 |
| Listing Date | Tuesday, August 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2024 |
Saraswati Saree Depot IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Saraswati Saree Depot Limited IPO Promoters
Mr. Shankar Dulhani, Mr. Mahesh Dulhani, Mr. Rajesh Dulhani, and Mr. Vinod Dulhani are the promoters of the company.
Saraswati Saree IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 188.85 | 169.93 |
| Revenue | 603.52 | 550.31 |
| Profit After Tax | 22.97 | 12.31 |
| Net Worth | 35.38 | 12.41 |
| Reserves and Surplus | ||
| Total Borrowing | 41.43 | 66.62 |
| Amount in ₹ Crore | ||
Saraswati Saree Depot Limited IPO Review
Saraswati Saree Depot Limited, established in 1996, is set to launch its IPO, aiming to raise ₹160.01 crore. Specializing in the manufacturing and wholesale distribution of women’s apparel, the company primarily focuses on sarees but also deals in other garments like kurtis, dress materials, blouse pieces, lehengas, and bottoms. The IPO will open on August 12, 2024, and close on August 14, 2024, with an issue price ranging from ₹152 to ₹160 per share and a lot size of 800 shares. The funds raised will be utilized to meet the company’s working capital requirements and for general corporate purposes, with shares expected to be listed on the NSE and BSE on August 20, 2024.
The company’s strengths lie in its diversified customer base and wide range of products, which mitigate the risk of over-reliance on a single product line or customer group. However, it faces challenges due to its heavy reliance on saree sales and limited geographical presence, primarily operating through two stores in Maharashtra. Promoted by Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani, and Vinod Dulhani, the company benefits from their extensive experience in the apparel industry. Prospective investors should review the company’s recent financial statements and performance indicators before investing, while also considering the current Grey Market Premium (GMP) as an indicator of market sentiment towards the IPO.
FAQs
Q1. What is the Saraswati Saree Depot Limited IPO?
Ans. The Saraswati Saree Depot Limited IPO is a public offering of equity shares. The IPO includes a fresh issue of 3,501,000 shares amounting to ₹56.02 crore and an offer for sale of 6,499,800 shares amounting to ₹104 crore. The issue price is set between ₹152 and ₹160 per share, with a total issue size of ₹160.01 crore.
Q2. When will the Saraswati Saree Depot Limited IPO open and close?
Ans. The IPO will open on August 12, 2024, and close on August 14, 2024.
Q3. What is the lot size and minimum investment required for the IPO?
Ans. The lot size for the Saraswati Saree Depot Limited IPO is 800 shares, and the minimum investment required is ₹121,600.
Q4. How can I apply for the Saraswati Saree Depot Limited IPO?
Ans. You can apply for the IPO online using UPI or ASBA as payment methods. Here are the steps:
- Log in to your Demat account through your broker’s platform.
- Select the IPO you wish to apply for.
- Enter the number of lots and your UPI ID.
- Approve the mandate request received on your UPI app to block funds.
Q5. What are the objectives of the IPO?
Ans. The net proceeds from the IPO will be used for funding working capital requirements and general corporate purposes.
Q6. Who are the promoters of Saraswati Saree Depot Limited?
Ans. The promoters are Mr. Shankar Dulhani, Mr. Mahesh Dulhani, Mr. Rajesh Dulhani, and Mr. Vinod Dulhani.
Q7. What is the Grey Market Premium (GMP) for the Saraswati Saree Depot Limited IPO? The Grey Market Ans. Premium (GMP) is the additional amount investors are willing to pay for shares in the grey market over the IPO issue price. The GMP can be an indicator of the price the shares might reach on the listing day, though it is not a guarantee.
Q8. When will the allotment of shares be finalized, and when will they be credited to my Demat account?
Ans. The finalization of the basis of allotment will be done on August 16, 2024, and the shares will be credited to the Demat accounts by August 19, 2024.
Q9. When is the listing date of the Saraswati Saree Depot Limited IPO?
Ans. The shares are expected to be listed on August 20, 2024