IPO Details
Bidding Dates
12 Aug '24 - 14 Aug '24
Minimum Investment
₹14,400 / 1 Lot (90 Shares)
Price Range
₹152 - ₹160
Maximum Investment
₹187,200 / 1 Lot (1,170 Shares)
Retail Discount
To be announced
Issue Size
₹160.01 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |Saraswati Saree PO Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Aug 12, 2024
IPO Close Date
Aug 14, 2024
Basis of Allotment
Aug 16, 2024
Initiation of Refunds
Aug 19, 2024
Listing Date
Aug 20, 2024
Saraswati Saree PO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Aug 12, 2024 |
1.19x | 12.67x | 5.57x | 4.45x |
About Saraswati Saree Depot Ltd
Incorporated in 1996, Saraswati Saree Depot Limited specialises in manufacturing and wholesaling women's apparel, with a primary focus on sarees. The company's core business lies in the wholesale (B2B) segment, catering to the demand for sarees and other women's garments such as kurtis, dress materials, blouse pieces, lehengas, and bottoms.
Saraswati Saree Depot sources its extensive product range from over 900 weavers and suppliers across various Indian states. The company's catalogue boasts over 300,000 unique SKUs, reflecting its diverse and comprehensive selection. Predominantly serving the southern and western regions of India, including Maharashtra, Goa, Karnataka, and Tamil Nadu, the company has successfully catered to more than 13,000 unique customers in fiscal 2024.
The company's product offerings are meticulously categorised by occasion, fabric, weave, and ornamentation, ensuring a tailored shopping experience for its clients. Impressively, over 90% of Saraswati Saree Depot's revenue is generated from saree sales alone.
As of June 30, 2024, Saraswati Saree Depot Limited employed 314 individuals across various departments, underlining its commitment to growth and service excellence in the women's apparel wholesale market.
Industry Outlook:
- The Indian saree industry is projected to grow at a 5-6% CAGR from FY 2023 to FY 2028, reaching ₹625-650 billion by FY 2028.
- Sarees constitute approximately 40% of the women's ethnic wear market in India, driven by rising demand for premium and quality products.
Saraswati Saree IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding the working capital requirements of the company.
- General corporate purposes.
Peer Details
The companies considered by Saraswati Saree Depot as its peers include:
- Go Fashion (India) Ltd.
- Sai Silks (Kalamandir) Ltd.
How to Check the Allotment Status of the Saraswati Saree IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Saraswati Saree Depot Limited
Registered office: Sr No.144/1 Manademala, Near Tawade Hotel, Gandhinagar Road, Uchagaon, Kolhapur, Maharashtra – 416005, India
Phone: +919271009858
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue From Operations (in ₹ million) | 6,109.04 | 6,018.91 | 5,495.76 |
| Profit After Tax (PAT) (in ₹ million) | 295.28 | 229.74 | 123.08 |
| Cash & Cash Equivalents (in ₹ million) | 98.68 | 190.49 | 172.32 |
| Net Worth (in ₹ million) | 649.09 | 353.82 | 124.08 |
| Debt to Equity Ratio(x) | 0.67 | 1.17 | 5.37 |
| Return on Equity (%) | 58.88% | 96.15% | 196.81% |
| Return on Capital Employed (RoCE) (%) | 64.46% | 98.03% | 169.07% |
| Earning Per Share (EPS)-in absolute ₹ | 8.92 | 6.94 | 3.72 |
Know before investing
Strengths
6-
Saraswati Saree Depot sources from 900+ weavers and suppliers.
-
The company offers 300,000+ SKUs, including sarees, kurtis, and lehengas.
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Bulk buying capabilities optimise costs and reduce supply chain risks.
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Promoters have 27-38 years of industry experience.
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In fiscal 2024, the company served over 13,000 unique customers.
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The company has a collaborative workforce that enhances efficiency and output.
Risks
6-
Saraswati Saree Depot generates 90.85% of its revenue from sarees in fiscal 2024.
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The company derives 82.68% of its revenue from the western zone in fiscal 2024.
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Sales are highly seasonal, peaking during festivals and weddings.
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The company relies on 900+ weavers without long-term agreements.
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Operations are working capital intensive, requiring significant funds.
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The company experienced negative cash flows in the past three years.
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Saraswati Saree Depot IPO FAQs
Saraswati Saree Depot Limited IPO is a book built IPO. The IPO will be open from August 12, 2024, to August 14, 2024.
The Basis of Allotment will happen on Friday, August 16, 2024.
The IPO subscription window will open on August 12, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 90 shares.
The listing date for Saraswati Saree Depot is Tuesday, August 20, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
