Saraswati Saree Depot IPO GMP: Saraswati Saree Depot IPO opened to investors on August 12 to raise a total of Rs 160.01 crore from the investors. The company will stop taking bids from investors for the issue from August 14.
Price Band
The company has set the IPO price band in a range of Rs 152 to Rs 160 per equity share.
Issue Size
The company will be raising a sum of Rs 160.02 crore from investors through a combination of fresh shares as well as an offer for sale. The company will raise Rs 104 crore by selling 6.5 million shares and Rs 56.02 crore by selling 3.5 million shares of promoters and other selling shareholders.
Allotment and Listing
The allotment of shares of Saraswati Saree Depot is expected to be finalised by August 16. The listing on BSE and NSE is likely to be on August 20, as per the tentative schedule.
Minimum Investment
A retail investor needs to buy at least 90 shares by applying for a single lot, amounting to Rs 14,400. There are different lot sizes for small NIIs and big NIIs. A small NII need a minimum investment of Rs 2,01,600 for 14 lots containing 1,260 shares each.
About Saraswati Saree Depot
Saraswati Saree Depot is in the business of manufacturing and wholesale women’s apparel. The company’s primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women’s apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. The company regularly sources sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India.
BRLM and Registrar
Unistone Capital is the book-running lead manager of the IPO, while Bigshare Services is the registrar for the issue.