The Saraswati Saree Depot IPO has generated significant buzz in the Indian stock market. Known for its range of sarees and women’s clothing, the company is offering shares to the public for the first time.
The IPO has attracted strong interest from investors. The overall subscription rate is 8.70 times, meaning that demand is 8.70 times higher than the available shares. Specifically:
- Retail Portion: Subscribed 11.76 times
- Non-Institutional Investor (NII) Segment: 26.46 times oversubscribed
- Qualified Institutional Buyers (QIB) Segment: Subscribed 1.24 times
In the grey market, where shares are traded before official listing, Saraswati Saree Depot shares are trading at a premium. The Grey Market Premium (GMP) has increased to Rs 53, up from Rs 34. This suggests positive sentiment and expectations for strong performance once the shares are listed.
IPO Pricing and Details
- Price Range: Rs 152 to Rs 160 per share
- Total Amount to be Raised: Rs 160.01 crore
- New Shares: Rs 104 crore
- Existing Shares: Rs 56.01 crore
- Lot Size: Each lot comprises 90 shares.
Important Dates
- IPO Opening Date: 12 August 2024
- IPO Closing Date: 14 August 2024
- Allotment Date: 16 August 2024 (tentative)
- Listing Date: 20 August 2024 (expected)
Registrar and Lead Manager
- Registrar: Bigshare Services Private Limited
- Lead Manager: Unistone Capital Private Limited
The Saraswati Saree Depot IPO has received a strong response from investors, with high subscription rates and a rising grey market premium indicating robust interest. Investors should review the pricing, subscription details, and overall market conditions before investing. Consulting a financial advisor may also provide valuable guidance for making informed investment decisions.