Saraswati Saree Depot has been a major player in the wholesale segment for Sarees. It's a B2B business that has been functioning since 1966. Saraswati Saree Depot is also engaged in the wholesale business of other women's apparel like beautiful kurtis, blouse pieces, lehengas and other traditional attires. Over 90% of their total revenue is generated solely through the sale of sarees.
Their product catalogue consists of over 3,00,000 SKUs, and the scalability of their business has expanded to 15,000 new and unique customers. This company has a diverse range of manufacturers spanning all over India. They also have strong relations with some of the major production hubs in India like Surat, Varanasi, Mau, Madurai Dharmavaram, Kolkata and Bengaluru. Their IPO stands as one of the top IPOs listed today and poses as a great IPO investment for investors looking to fund a wholesale apparel business.
The Saraswati Saree Depot Limited IPO rolled out on August 12 2024, and closed out on August 14. Saraswati Saree Depot Limited IPO aims to raise ₹160.01 crores comprising a total ₹56.02 crores as fresh issues and 6,499,800 equity shares that are offered for sale at ₹10 each.
| IPO Open: | August 12, 2024 |
| IPO Close: | August 14, 2024 |
| IPO Size: | Approx ₹160.01 Crores, 10,800,000 Equity Share |
| Fresh Issue: | Approx ₹104.00 Crores, 6,499,800 Equity Share |
| Offer for Sale: | Approx ₹56.02 Crores, 3,501,000 Equity Share |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹152 to ₹160 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
| Minimum Investment | ₹13, 680 |
The minimum market lot of their IPO investment is 90 shares with ₹14,400 as the application amount. Out of this investment, all retail investors can apply for up to 13 lots with 1170 shares, i.e. ₹187,200, and the minimum order quantity is 1260.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 90 | ₹14,400 |
| Retail Maximum | 13 | 1170 | ₹187,200 |
| S-HNI Minimum | 14 | 1,260 | ₹201,600 |
| B-HNI Minimum | 70 | 6,300 | ₹1,008,000 |
The timeline for Saraswati Saree Depot Limited IPO is listed below for your reference:
| 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 |
The allotment for this listing is to be finalised today, i.e. 16th August and the shares were oversubscribed by 107.39 times by 14th August (closing date).
A company's GMP or grey market price indicates the market sentiment and investor interest before the actual listing takes place. There is a positive uproar in the grey market for the unlisted shares of Saraswati Saree Depot. As of August 16, Friday, the shares have commanded a Grey Market Premium of ₹48, i.e. 30% over the IPO price.
The GMP of Saraswati Saree Depot IPO today suggests a clear listing of ₹208 (IPO GMP + Upper band of the actual price). If this trend continues, investors can easily expect a profit of 48 or 30 per cent per share after the final listing.
Saraswati Saree Depot Limited has seen a steep increase in its revenue from FY22 to FY24. A 2% increase in revenue led to an increase in PAT (Profit After Tax) by 29%. The total market capitalisation of Saraswati Saree Depot is ₹ 633.6 Cr.
| 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 |
*Amounts in ₹
The legacy of this company has been built on strong foundations of customer loyalty, quality products and strong relationships with key players in the market. To expand their customer outreach and fund the working capital needs of the company, their IPO has set afoot in the industry. Bigshare Services is the registrar of this IPO, and Unistone Capital is working as the book-running lead manager for the public issue.
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