Woman's apparel manufacturer Saraswati Saree Depot is all set to launch its initial public offerings (IPO) on Monday, August 12. The issue will remain open for subscription till August 14.
The company has been a prominent player in the saree wholesale (B2B) market since 1966. In addition to sarees, it is also involved in the wholesale distribution of other women's apparel, including kurtis, dress materials, blouse pieces, lehengas, bottoms, and more.
The net issue is reserved over 50 per cent for qualified institutional buyers, 15 per cent for non-institutional investors, and at least 35 per cent for retail investors, all on a proportionate basis.
The IPO's net proceeds will be used to fund the company's working capital needs and general corporate purposes.
Saraswati Saree Depot IPO date: The mainboard segment IPO will open for bidding on August 12 and will close on August 14.
Saraswati Saree Depot IPO price band: The price band of the upcoming IPO has been set at ₹152 to ₹160 per share.
Saraswati Saree Depot IPO size: The IPO is a book-built issue valued at ₹160 crore. It includes a fresh issue of 0.65 crore shares, amounting to ₹104 crore, and an offer for sale of 0.35 crore share, totaling ₹56.02 crore.
Saraswati Saree Depot IPO lot size: The minimum lot size for retail investors is 90 shares, with a minimum investment of ₹14,400.
Saraswati Saree Depot IPO promoters: The company's promoters include Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani, and Vinod Dulhani.
Saraswati Saree Depot IPO book-running managers: The book-running manager of the upcoming public issue is Unistone Capital Pvt Ltd.
Saraswati Saree Depot IPO registrar: The registrar of the IPO is Bigshare Services Pvt Ltd.
Saraswati Saree Depot IPO allotment date: The allotment for the IPO is anticipated to be finalized on Friday, August 16, 2024.
Saraswati Saree Depot IPO listing date: The public issue is likely to be listed on Indian bourses on Tuesday, August 20, 2024.
Saraswati Saree Depot IPO GMP: The shares of Saraswati Saree Depot is trading at a premium of ₹45 in the grey market premium (GMP), as per investorgain.com.
