Saraswati Saree Depot IPO: The listing date for the initial public offering (IPO) of Saraswati Saree Depot Limited has been fixed on 20th August 2024. This means Saraswati Saree Depot shares will become available for trade from 10:00 AM during Tuesday's dealings. As per the information on the BSE website, effective from Tuesday, August 20, 2024, the equity shares of Saraswati Saree Depot shall be listed and admitted to dealings on the Exchange in the list of 'T' group of securities.
According to stock market experts, Saraswati Saree Depot's IPO received a decent response from the primary market investors. They said that Saraswati Saree Depot shares might list at around ₹200 to ₹210 per equity share, delivering up to 30 per cent listing gain to the allottees. The grey market also signals decent gains for the allottees on the Saraswati Saree Depot IPO listing date. According to stock market observers, Saraswati Saree Depot GMP (grey market premium) today is ₹48.
Speaking on Saraswati Saree Depot IPO listing, Akriti Mehrotra, Research Analyst at Stoxbox, said, “Saraswati Saree Depot Ltd. (SSDL) is set to make a decent market debut on Tuesday after receiving an overwhelming response during its subscription phase. The company is anticipated to list with a 20% to 25% premium. Saraswati Saree Depot Ltd. (SSDL) offers a unique investment opportunity with its well-established B2B saree wholesale business, which serves a large network of semi-wholesalers and retailers. The company's focus on sarees, complemented by a successful diversification into kurtis, dress materials, and men's suiting, has driven substantial growth in revenue and profitability.”
Asked about the expected Saraswati Saree Depot IPO listing price, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, said, “The company's mainline business is the wholesale (B2B) segment of sarees. In addition, it sells various items of women's clothing, including bottoms, lehengas, kurtis, dress materials, and blouse pieces. 90% of revenue comes from Saree sales alone, and the rest comes from other products like Kurti, dress material, other garments, and related products. The issue appears fully priced, based on the FY24 annualised earnings. We expect a listing at around ₹200 to ₹210 per share.”
According to stock market observers, Saraswati Saree Depot Limited shares are available at a premium of ₹48 in today's grey market. This means the grey market expects that the Saraswati Saree Depot IPO listing price will be around ₹208 ( ₹160 + ₹48), which is around 30 per cent higher than the upper price band of the Saraswati Saree Depot IPO.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
