Shares of Saraswati Saree Depot will be listed on the bourses today after a blockbuster IPO. The company has fixed the IPO price at ₹160.The initial public offering of Saraswati Saree Depot saw a robust response from all categories of investors. The issue closed with an overall subscription of 107.52 times. All categories of investors, especially non-institutions, poured money into the Kolhapur-headquartered IPO.The IPO had a price band of ₹152-160. The offer size was ₹160.01 crore, which included a fresh issue worth ₹104 crore and an offer-for-sale of ₹56.02 crore. The IPO received bids for 107.52 crore shares as against the issue size of 1 crore shares. The NII portion was the most vibrant, as the quota reserved for them was subscribed 358.65 times, followed by retail investors 61.88 times. The QIB portion was also robust, with subscription levels of 64.12 times.Saraswati Saree Depot IPO shares will be listed on the BSE and NSE. The company plans to use ₹81 crore from the IPO proceeds for working capital requirements. It also plans to use the proceeds to strengthen its sales through e-commerce channels and benefit from evolving customer trends.The company is engaged in the wholesale business of sarees and other women’s apparel like kurtis, dress materials, lehengas, blouse pieces and bottoms. During 2024, Saraswati Saree Depot earned a revenue of ₹610 crore and a net profit of ₹29.5 crore. In the previous year (2022-23), revenues stood at ₹601 crore and profit after tax at ₹22.9 crore.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.SHARE
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https://www.thehindubusinessline.com/markets/ipo-screener-all-eyes-on-saraswati-saree-depot-listing/article68545325.ece
