Saraswati Saree Depot IPO: All You Need To Know Before Applying?

• Saraswati Saree Depot IPO is a book-built issue of Rs 160.01 crore.

• This upcoming IPO bidding opens on August 12 and closes on August 14, 2024.

• Saraswati Saree Depot IPO price band is set at Rs 152 to Rs 160 per share.

• The Minimum investment required Rs 14,400.

Saraswati Saree Depot IPO: Synopsis

Saraswati Saree Depot IPO is open for subscription starting Tuesday, August 12, 2024 and closing on Thursday, August 14, 2024. The price of this upcoming IPO is decided at Rs 152 to Rs 160 per share. 

The minimum lot size for the retail category is 90 shares. The minimum lot size for small NII is 14 lots consisting of 1,260 shares. Meanwhile, the minimum lot for big non-institutional investors is 70 lots with 6,300 shares. 

The minimum investment required for retail category investors is Rs 14,400 (160 x 90 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,01,600 (160 x 1,260 shares); for big non-institutional investors, it is Rs 10,08,000 (160 x 6,300 shares). 

Saraswati Saree Depot IPO is a book-built issue of Rs 160.01 crores. This issue is a combination of fresh issue and offer-for-sale. The fresh issue is of Rs 0.64 crore equity shares amounting to Rs 104 crores. The offer-for-sale is of 0.35 crore equity shares amounting to Rs 56.02 crores. 

The allotment for this IPO is expected to be finalised on Friday, August 16, 2024. 

Saraswati Saree Depot Limited's IPO will be listed on both the exchanges BSE and NSE, and the listing date is fixed for Tuesday, August 20, 2024. 

Unistone Capital Private Limited is the book-running lead manager of Saraswati Saree Depot Limited. Bigshare Services Private Limited is the registrar for this new IPO.

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Saraswati Saree Depot IPO: About the Company

Saraswati Saree Depot Limited was incorporated in 1996, is engaged in the business of manufacturing and wholesale women's apparel. The company's main business is in wholesale B2B in sarees.

The other revenue comes from the sale of other women's apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms etc. 

Saraswati Saree Depot sources sarees and other women's apparel from more than 900 suppliers across different states in India. Currently, their product catalogue lists more than 300,000 different SKUs. 

Saraswati Saree majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka and Tamil Nadu and the company has served more than 15,000 unique customers in fiscal 2023.

The company stores offer saree products categorised by occasion, fabric, weave, and ornamentation. Over 90 percent of the company's revenue comes from saree sales.

Saraswati Saree Depot IPO: Objectives

The amount raised from this IPO will be used for meeting the working capital needs of the company. The remaining funds will be used for the general corporate purposes.

Saraswati Saree Depot IPO: Other Important Details

Saraswati Saree Depot IPO: Time-Table 

Saraswati Saree Depot Limited: Financial Metrics  (Amt in Rs Crore)

Saraswati Saree Depot reported revenue of Rs 603.52 crore and net profit of Rs 22.97 crore for the period ending 31 March 2023. Between the FY ending 31 March 2023 and 31 March 2022, the company’s revenue increased by 9.67%, and PAT increased by 86.66%.

Lot Size of Saraswati Saree Depot IPO

Promoters of Saraswati Saree Depot Limited and Their Holdings

The promoters of Saraswati Saree Depot Limited are Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani, and Vinod Dulhani. The promoter's shareholdings before the IPO is 100% however, after the IPO, the details of the shareholding are not available.

Saraswati Saree Depot IPO: Strength of the Company

• Saraswati Saree Depot is engaged in manufacturing and wholesale women's apparel. 

• The company regularly sources sarees and other women’s apparel from more than 900 suppliers across different states in India. 

• Saraswati Saree Depot is a profitable company and net profit is rising on a steady basis. The PAT increased from 12.31 crore to Rs 22.97 crore between FY22 and FY23.

FAQs

1. What are the details of Saraswati Saree Depot Limited IPO 2024?

Saraswati Saree Depot IPO is a book-built issue of Rs 160.01 crores. This issue is a combination of fresh issue and offer-for-sale. The fresh issue is of Rs 0.64 crore equity shares amounting to Rs 104 crores. The offer-for-sale is of 0.35 crore equity shares amounting to Rs 56.02 crores. 

2. Who are the lead managers for the Saraswati Saree Depot Limited IPO?

Unistone Capital Private Limited are lead managers for this IPO.

3. What is the role of Link Intime India in this IPO?

Bigshare Services Private Limited is the registrar for Saraswati Saree Depot Limited, handling the IPO's administrative aspects.

4. How can I apply for the Saraswati Saree Depot Limited IPO?

The public subscription of this IPO will open on August 12, 2024. Click here to continue the application process.

5. How will the net proceeds from the IPO be utilised?

The amount raised from this IPO will be used for meeting the working capital needs of the company. The remaining funds will be used for the general corporate purposes.

6. How can I check the allotment status of the IPO?

Investors can check out the allotment status of the Saraswati Saree Depot Limited IPO 2024 by visiting here.

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