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Saraswati Saree Depot IPO is a book build issue of ₹160.01 crores. The issue is a combination of fresh issue of 0.65 crore shares aggregating to ₹104.00 crores and offer for sale of 0.35 crore shares aggregating to ₹56.02 crores.
Saraswati Saree Depot IPO bidding started from Aug 12, 2024 and ended on Aug 14, 2024. The allotment for Saraswati Saree Depot IPO was finalized on Aug 16, 2024. The shares got listed on BSE, NSE on Aug 20, 2024.
Saraswati Saree Depot IPO price band is set at ₹160.00 per share . The lot size for an application is 90. The minimum amount of investment required by an retail is ₹13,680 (90 shares). The lot size investment for sNII is 14 lots (1,260 shares), amounting to ₹2,01,600, and for bNII, it is 70 lots (6,300 shares), amounting to ₹10,08,000.
Unistone Capital Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Saraswati Saree Depot IPO RHP for detailed Information.
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | August 20, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹152 to ₹160 per share |
| Issue Price Final | ₹160 per share |
| Lot Size | 90 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,00,00,800 shares (aggregating up to ₹160.01 Cr) |
| Fresh Issue | 64,99,800 shares (aggregating up to ₹104.00 Cr) |
| Offer for Sale | 35,01,000 shares of ₹10 (aggregating up to ₹56.02 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,31,00,000 shares |
| Share Holding Post Issue | 3,95,99,800 shares |
Saraswati Saree Depot IPO offers total 1,00,00,800 shares. Out of which 50,00,400 (50.00%) allocated to QIB, 15,00,120 (15.00%) allocated to NII, 35,00,280 (35.00%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 50,00,400 (50.00%) | NA |
| NII (HNI) Shares Offered | 15,00,120 (15.00%) | NA |
| − bNII > ₹10L | 10,00,080 (10.00%) | 793 |
| − sNII < ₹10L | 5,00,040 (5.00%) | 396 |
| Retail Shares Offered | 35,00,280 (35.00%) | 38,892 |
| Total Shares Offered | 1,00,00,800 (100.00%) |
Saraswati Saree Depot IPO opens on August 12, 2024, and closes on August 14, 2024.
| IPO Open Date | Mon, Aug 12, 2024 |
| IPO Close Date | Wed, Aug 14, 2024 |
| Tentative Allotment | Fri, Aug 16, 2024 |
| Initiation of Refunds | Mon, Aug 19, 2024 |
| Credit of Shares to Demat | Mon, Aug 19, 2024 |
| Tentative Listing Date | Tue, Aug 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Aug 14, 2024 |
Investors can bid for a minimum of 90 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,400 |
| Retail (Max) | 13 | 1,170 | ₹1,87,200 |
| S-HNI (Min) | 14 | 1,260 | ₹2,01,600 |
| S-HNI (Max) | 69 | 6,210 | ₹9,93,600 |
| B-HNI (Min) | 70 | 6,300 | ₹10,08,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1996, Saraswati Saree Depot Limited is engaged in manufacturing and wholesale women's apparel.
The company's primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women's apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.
The company regularly sources sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India. Currently, our product catalog lists more than 300,000 different SKUs. The company majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka, and Tamil Nadu and the company has served more than 13,000 unique customers in fiscal 2024. The company stores offer saree products categorized by occasion, fabric, weave, and ornamentation. Over 90 percent of the company's revenue comes from saree sales.
Saraswati Saree Depot Limited's revenue increased by 2% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 205.94 | 188.85 | 169.93 |
| Total Income | 612.58 | 603.52 | 550.31 |
| Profit After Tax | 29.53 | 22.97 | 12.31 |
| Net Worth | 64.91 | 35.38 | 12.41 |
| Total Borrowing | 43.49 | 41.43 | 66.62 |
| Amount in ₹ Crore | |||
The market capitalization of Saraswati Saree Depot IPO is ₹633.60 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 58.88 |
| ROCE | 64.46 |
| Debt/Equity | 0.67 |
| RoNW | 45.49 |
| PAT Margin | 4.83% |
| Price to Book Value | 8.16 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 8.92 | 7.46 |
| P/E (x) | 17.94 | 21.46 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company has unique model of saree whole selling and has over 300000 SKUs procured from 900+ weavers and marketed to 13000+ customers, who are largely semi wholesaler/retailers. Thus it operates on B2B model with 90+% revenue from sale of Sarees. Recently, it diversified into kurti and dress materials along with branded suiting/shirting for men that is contributing the rest. Considering the trends set by its unique business model, investors may park funds for medium to long term. Read detail review...
| Listing Date | August 20, 2024 |
| BSE Script Code | 544230 |
| NSE Symbol | SSDL |
| ISIN | INE0PQ101010 |
| Final Issue Price | ₹160 per share |
| BSE Listing Group | T |
Saraswati Saree Depot Ltd.
Sr No.144/1 Manademala,
Near Tawade Hotel, Gandhinagar Road,
Uchagaon, Kolhapur - 416005
Kolhapur, Maharashtra
Phone: +919271009858
Email: cs@saraswatisareedepotlimited.com
Website: https://www.saraswatisareedepot.com/home
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Saraswati Saree Depot IPO is a main-board IPO of 1,00,00,800 equity shares of the face value of ₹10 aggregating up to ₹160.01 Crores. The issue is priced at ₹160 per share. The minimum order quantity is 90.
The IPO opens on August 12, 2024, and closes on August 14, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Saraswati Saree Depot IPO using UPI as a payment gateway. Zerodha customers can apply in Saraswati Saree Depot IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Saraswati Saree Depot IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Saraswati Saree Depot IPO opens on August 12, 2024 and closes on August 14, 2024.
Saraswati Saree Depot IPO lot size is 90, and the minimum amount required for application is ₹14,400.
You can apply in Saraswati Saree Depot IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Saraswati Saree Depot IPO will be done on Friday, August 16, 2024, and the allotted shares will be credited to your demat account by Monday, August 19, 2024. Check the Saraswati Saree Depot IPO allotment status.
The Saraswati Saree Depot IPO listing date is on Tuesday, August 20, 2024.
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