Saraswati Saree Depot lists at 21% premium; is it a Buy at current levels?

Saraswati Saree Depot IPO listing date: The company didn't raised a single penny from anchor investors. Not more than 35% of the issue was reserved for the retail participants.

Written by Sparsh Bansal

August 20, 2024 10:13 IST

Saraswati Saree Depot IPO GMP today: The company raised money to fund working capital requirements and other general corporate purposes. (Image: Saraswati Saree Depot/website)

Saraswati Saree Depot was listed at Rs 194 on the National Stock Exchange, a 21.3% premium to the issue price.

The company opened its issue to investors for bidding on August 12 and closed it on August 14. The company raised a total of Rs 160.01 crore through a combination of fresh shares and an offer for sale.

GMP

The company’s shares were fetching a premium of 25% to the price in the grey market. It is an unofficial place where shares change hands illegally before listing.

Price Band

The company kept the IPO price band in a range of Rs 152 to Rs 160 per equity share. The allotment of shares was finalised on August 16.

Minimum Investment

A retail buyer had to apply for a minimum of one lot that held 90 shares for a value of Rs 14,400. Meanwhile, there were different lot sizes for small NIIs and big NIIs.