Saraswati Saree Depot lists at 25% premium against issue price on BSE

Shares of Saraswati Saree Depot (SSDL) made their D-Street debut today at a decent premium. The stock on the NSE against the issue price of Rs 160 listed at Rs 194, gaining over 21 per cent, while on the BSE it started trade at Rs 200, a premium of 25 per cent.

Saraswati Saree Depot IPO details

The Rs 160 crore issue of the company ran between August 12 and August 14. The offer comprised a fresh issue of 6.5 million shares, in addition to the OFS or offer for sale of 3.5 million shares. Post the issue, promoter shareholding in the company will be reduced to 74.75 per cent. 

Saraswati Saree Depot IPO garnered huge investor interest amid the buoyant market mood with an overall subscription of 107.39 times. NII led the subscription with subscription rate of 358.47 times, followed by QIBs which applied for 64.12x the shares on offer for them. Meanwhile, the retail investor category bid for 61.59 times the shares available for them.

The proceeds of the issue will be put to finance the working capital requirement at the company besides the general corporate purposes.

About Saraswati Saree Depot 

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.