August 13, 2024
New Delhi, India
IPO Watch
Saraswati Saree Depot Limited’s initial public offering (IPO) opened in the Indian primary market on August 12, 2024. The women’s apparel company has set the price band for its public issue between ₹152 and ₹160 per equity share. The IPO will be open for subscription until August 14, 2024, offering investors a chance to participate in the company’s growth story.
IPO Details:
The price band for the Saraswati Saree Depot IPO is set between ₹152 and ₹160 per equity share, offering investors a competitive range. The company plans to raise a total of ₹160.01 crore through this IPO. Out of this, ₹104 crore will come from the issuance of fresh shares, while ₹56.01 crore is allocated for an Offer for Sale (OFS) by existing shareholders. The IPO subscription period runs from August 12 to August 14, 2024, providing investors a three-day window to invest in this emerging women’s apparel company. Investors can bid in lots of 90 shares each, allowing for flexible investment options tailored to individual budgets and strategies.
Subscription Status: As of 1:39 PM on the second day of bidding, the Saraswati Saree Depot IPO has been subscribed 10.44 times overall. The retail portion has been subscribed 14.33 times, while the Non-Institutional Investors (NII) segment has seen a subscription of 32.01 times. The Qualified Institutional Buyers (QIB) portion was subscribed 1.24 times, reflecting solid demand across investor categories.
Grey Market Premium (GMP): The Saraswati Saree Depot IPO is generating buzz in the grey market as well. According to market observers, the shares are commanding a grey market premium (GMP) of ₹53 today, up from ₹34 on Monday. This positive sentiment in the grey market indicates potential listing gains for investors.
Important Dates:
- IPO Allotment Date: The allotment of shares is expected to take place on Friday, August 16, 2024. Investors will soon find out if their bids have been successful.
- Listing Date: Following the ‘T+3’ listing rule, the Saraswati Saree Depot shares are likely to list on the stock exchanges on August 20, 2024.
IPO Lead Manager and Registrar: Unistone Capital Private Limited has been appointed as the lead manager for the IPO, ensuring a smooth process. Bigshare Services Private Limited is serving as the official registrar for this mainboard IPO, handling all aspects of share allocation and investor communication.
The Saraswati Saree Depot IPO presents an exciting opportunity for investors, particularly those interested in the women’s apparel sector. With strong subscription figures and a rising grey market premium, this IPO is attracting significant interest. Investors should stay updated on key dates and subscription status as the IPO progresses.
Disclaimer:
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