Saraswati Saree Depot Initial Public Offering (IPO) will open for subscription. The clothing and saree manufacturer’s mainboard IPO is a book-building issue valued at Rs 160.01 crore.
Price band and promoters
The fixed price range for the IPO is between Rs 152 and Rs 160 per share. Vinod, Mahesh, Rajesh, and Shankar Dulhani are the company’s promoters. Prior to the public offering, the promoters owned a 100 per cent stake in the business.
Reservations for different category
The initial share sale consists of an offer-for-sale (OFS) of 35 lakh shares, totalling Rs 56.02 crore, and a new issue of 65 lakh shares, totalling Rs 104 crore.
50 per cent of the net issue has been set aside by Saraswati Saree Depot for qualified institutional buyers (QIBs), with the remaining 35 per cent going to retail investors. 15 per cent of the net issue that remains has been set aside for non-institutional investors (NIIs).
Minimum and maximum bids
Retail investors may bid as little as Rs 14,400 for a minimum of one lot of 90 shares if they are interested in applying for the Saraswati Saree Depot IPO.
Bids for a minimum of 14 lots (1,260 shares) can be made by small non-institutional investors (sNII), requiring an investment of Rs 2,01,600. Large non-institutional investors (l-NIIs) are permitted to bid a minimum of Rs 10,08,000. This equates to 70 lots, or 6,300 shares.
Subscription period
The subscription period for the public offer will begin on Monday, August 12, and end on Wednesday, August 14. On Friday, August 16, the share allotment status is probably going to be finalised.
On Monday, August 19, the company will begin paying out refunds to unsuccessful bidders and transferring shares into the designated allottees’ Demat accounts on the same day.
The NSE and BSE will list Saraswati Saree Depot shares; the IPO is scheduled to take place on August 20.
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Comapany’s financials
In FY24, the company’s revenue increased by more than 1 per cent to Rs 612.58 crore from Rs 603.52 crore in FY23. In FY24, the company’s profit-after-tax (PAT) increased by more than 28 per cent to Rs 29.53 crore from Rs 22.97 crore in FY23.
From FY23’s Rs 35.38 crore to FY24’s Rs 64.91 crore, the apparel maker’s net worth climbed by over 83 per cent.
