Saraswati Saree Depot IPO Set To Open For Subscription From 12th August

Saraswati Saree Depot is gearing up for its Initial Public Offering (IPO) with a total issue size of Rs 160.01 crores. The IPO, a mix of fresh issue and offer for sale, will open for subscription on August 12, 2024, and close on August 14, 2024. This IPO aims to raise capital to support the company’s growth and operational needs.

Details of Saraswati Saree Depot IPO

The Saraswati Saree Depot IPO includes a fresh issue of 0.65 crore shares, totaling Rs 104.00 crores, and an offer for sale of 0.35 crore shares, aggregating Rs 56.02 crores. The price band for the IPO is set at Rs.152 to Rs.160 per share. Investors can apply in lots of 90 shares, with the minimum investment for retail investors being ₹14,400. The sNII investors are required to invest in a minimum of 14 lots (1,260 shares), amounting to ₹201,600, while bNII investors need to apply for at least 70 lots (6,300 shares), totaling ₹1,008,000. Unistone Capital Pvt Ltd is the book-running lead manager for the IPO, and Bigshare Services Pvt Ltd is the registrar.

IPO Timeline and Objectives

The allotment of shares for the Saraswati Saree Depot IPO is expected to be finalized by Friday, August 16, 2024, with the listing on BSE and NSE tentatively scheduled for Tuesday, August 20, 2024. The primary objectives for raising the funds include meeting the company’s working capital requirements and addressing general corporate purposes. These funds will play a crucial role in driving the company’s future growth and operational efficiency.

Conclusion: The Saraswati Saree Depot IPO presents a strategic opportunity for investors to participate in the company’s growth journey. With a well-defined use of proceeds and a clear timeline, the IPO is set to enhance the company’s financial standing and market presence. As Saraswati Saree Depot prepares to list on major stock exchanges, this IPO marks a significant milestone in its expansion plans.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.