Saraswati Saree Depot IPO opens for subscription: Key dates, price band and more

Saraswati Saree Depot’s initial public offering (IPO) opens for subscription today (August 12). The issue of the women’s apparel manufacturer will remain open for subscription till August 14. The company has been involved in the wholesale distribution of other women’s apparel, including kurtis, dress materials, blouse pieces, lehengas, bottoms, among others.
Net proceeds from the IPO will be used to fund the company’s working capital needs and general corporate purposes. The IPO reserves over 50 per cent for qualified institutional buyers, 15 per cent for non-institutional investors and at least 35 per cent for retail investors. Here’s everything you need to know about Saraswati Saree Depot IPO:
Key dates: The IPO will open for bidding on August 12 and will close on August 14.
Price band: The price band of Saraswati Saree Depot IPO has been set at ₹152 to ₹160 per share.
IPO size: The book-built issue valued at ₹160 crore and includes a fresh issue of 0.65 crore shares, amounting to ₹104 crore and an offer for sale of 0.35 crore share, totaling ₹56.02 crore.
Lot size: The minimum lot size for retail investors is 90 shares, with a minimum investment of ₹14,400.
Promoters and book-running managers: The company’s promoters include Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani, and Vinod Dulhani. The book-running manager of Saraswati Saree Depot IPO is Unistone Capital Pvt Ltd.
Registrar: The registrar of Saraswati Saree Depot IPO is Bigshare Services Pvt Ltd.
Allotment date: The allotment for Saraswati Saree Depot IPO is anticipated to be finalized on August 16.
Listing date: The issue is likely to be listed on Indian bourses on August 20.
GMP: The shares of Saraswati Saree Depot are trading at a premium of ₹45 in the grey market premium (GMP), as per investorgain.com.