Saraswati Saree Depot IPO opens: here's all you need to know about the Rs 160 crore public issue

Saraswati Saree Depot- wholeseller of saree and other women wear has hit the primary market today with its IPO offering. Here are the finer details about the issue one should know:

About the issue:

It is a mainboard IPO of 10,000,800 equity shares of the face value of Rs 10 aggregating up to Rs160.01 crores. The issue is priced at Rs 152-160 per share. The minimum order quantity is 90 shares. The IPO opens on August 12, 2024, and closes 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. Unistone Capital is the book running lead manager to the issue.

Objective of the issue:

The funds mopped from the issue will be put to meet working capital requirements and also for other general corporate purposes. 

About the company:

Saraswati Saree Depot was incorporated on March 18, 2021. It is a player in sarees wholesale (B2B) segment. The company is also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.

Company financials

For FY2024, the company posted a net profit of Rs 29.53 crore, while the revenue from operations was recorded at Rs 610.9 crore.