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Saraswati Saree Depot IPO is a book built issue of Rs 160.01 crores. The issue is a combination of fresh issue of 0.65 crore shares aggregating to Rs 104.00 crores and offer for sale of 0.35 crore shares aggregating to Rs 56.02 crores.
Saraswati Saree Depot IPO bidding started from August 12, 2024 and ended on August 14, 2024. The allotment for the Saraswati Saree Depot IPO is expected to be finalized on Friday, August 16, 2024. Saraswati Saree Depot IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, August 20, 2024.
Saraswati Saree Depot IPO price band is set at ₹152 to ₹160 per share. The minimum lot size for an application is 90 Shares. The minimum amount of investment required by retail investors is ₹14,400. The minimum lot size investment for sNII is 14 lots (1,260 shares), amounting to ₹201,600, and for bNII, it is 70 lots (6,300 shares), amounting to ₹1,008,000.
Unistone Capital Pvt Ltd is the book running lead manager of the Saraswati Saree Depot IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Saraswati Saree Depot IPO RHP for detailed information.
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹152 to ₹160 per share |
| Lot Size | 90 Shares |
| Total Issue Size | 10,000,800 shares (aggregating up to ₹160.01 Cr) |
| Fresh Issue | 6,499,800 shares (aggregating up to ₹104.00 Cr) |
| Offer for Sale | 3,501,000 shares of ₹10 (aggregating up to ₹56.02 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 33,100,000 |
| Share holding post issue | 39,599,800 |
Saraswati Saree Depot IPO offers 10,000,800 shares. 5,000,400 (50.00%) to QIB, 1,500,120 (15.00%) to NII, 3,500,280 (35.00%) to RII. 38,892 RIIs will receive minimum 90 shares and 396 (sNII) and 793 (bNII) will receive minimum 1,260 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,000,400 (50.00%) | NA |
| NII (HNI) Shares Offered | 1,500,120 (15.00%) | |
| bNII > ₹10L | 1,000,080 (10.00%) | 793 |
| sNII < ₹10L | 500,040 (5.00%) | 396 |
| Retail Shares Offered | 3,500,280 (35.00%) | 38,892 |
| Total Shares Offered | 10,000,800 (100%) |
Saraswati Saree Depot IPO opens on August 12, 2024, and closes on August 14, 2024.
| IPO Open Date | Monday, August 12, 2024 |
| IPO Close Date | Wednesday, August 14, 2024 |
| Basis of Allotment | Friday, August 16, 2024 |
| Initiation of Refunds | Monday, August 19, 2024 |
| Credit of Shares to Demat | Monday, August 19, 2024 |
| Listing Date | Tuesday, August 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2024 |
Investors can bid for a minimum of 90 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,400 |
| Retail (Max) | 13 | 1170 | ₹187,200 |
| S-HNI (Min) | 14 | 1,260 | ₹201,600 |
| S-HNI (Max) | 69 | 6,210 | ₹993,600 |
| B-HNI (Min) | 70 | 6,300 | ₹1,008,000 |
| Lot Size Calculator | |||
Mr. Shankar Dulhani, Mr. Mahesh Dulhani, Mr. Rajesh Dulhani, and Mr. Vinod Dulhani are the promoters of the company.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 74.75% |
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 | |||||||||||||||||||||||||||
| Revenue | 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 Rs 633.6 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 58.88 |
| ROCE | 64.46 |
| Debt/Equity | 0.67 |
| RoNW | 45.49 |
| P/BV | 8.16 |
| PAT Margin (%) | 4.83 |
| 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...
The Saraswati Saree Depot IPO is subscribed 107.39 times on August 14, 2024 6:19:08 PM. The public issue subscribed 61.59 times in the retail category, 64.12 times in the QIB category, and 358.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 64.12 |
| NII | 358.47 |
| bNII (bids above ₹10L) | 389.28 |
| sNII (bids below ₹10L) | 296.85 |
| Retail | 61.59 |
| Total | 107.39 |
Total Application : 2,170,552 (55.81 times)
Saraswati Saree Depot Limited
Sr No.144/1 Manademala,
Near Tawade Hotel, Gandhinagar Road,
Uchagaon, Kolhapur - 416005
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 10,000,800 equity shares of the face value of ₹10 aggregating up to ₹160.01 Crores. The issue is priced at ₹152 to ₹160 per share. The minimum order quantity is 90 Shares.
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 Shares, and the minimum amount required is ₹14,400.
You can apply in Saraswati Saree Depot IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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