Saraswati Saree Depot IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 14, 2024Let’s have a detailed review of the company and analytics of the Saraswati Saree Depot IPO release date, IPO offer price, subscription, Saraswati Saree Depot Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 152 to Rs 160 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 90 Shares |
| Listing Date | August 20, 2024 |
| Offer for Sale | Rs 56.02 Cr. |
| Fresh Issue | Rs 104.00 Cr. |
| IPO Size | Rs 160.01 Cr. |
| Tick Size | 1 |
Saraswati Saree Depot IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Saraswati Saree Depot Share Price |
Saraswati Saree Depot IPO – Summary
They are a key player in the sarees wholesale (B2B) segment and their origin in the sarees business dates back to the year 1966.
They are also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. On average of more than 90% of their total revenues are generated from the sale of sarees. In Fiscal 2024, they have served over 13,000uniquecustomers and their product catalogue consists of more than 3,00,000 different SKUs.
The Promoter of this company is MAHESH DULHANI, RAJESH DULHANI, SHANKAR DULHANI AND VINOD DULHANI. The lead manager of the issue is HEM SECURITIES LIMITED, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Saraswati Saree Depot IPO Date
The opening and closing dates of Saraswati Saree Depot IPO are August 12, 2024, and August 14, 2024, respectively.
Saraswati Saree Depot IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 12th Aug | 1.19x | 12.67x | 5.57x | 4.45x |
| 2nd Day -13th Aug | 1.32x | 57.34x | 20.62x | 16.48x |
| 3rd Day – 14th Aug | 64.12x | 358.47x | 61.59x | 107.39x |
| Shares Offered or Net Issue | 5,000,400 | 1,500,120 | 3,500,280 | 10,000,800 |
The shares subscribed by the public will be updated here.
Saraswati Saree Depot IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Saraswati Saree Depot Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | August 16, 2024 |
| Refunds Initiation | August 19, 2024 |
| Credit of Shares to Demat Account | August 19, 2024 |
| Share Listing Date | August 20, 2024 |
Saraswati Saree Depot IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 152 to Rs 160
Saraswati Saree Depot IPO Equity Size
This Initial Public Issue of 10,000,800 Equity Shares of Rs.10 each for cash at a price of Rs 152 to Rs 160 per equity share aggregating to Rs.160.01 Cr.
Saraswati Saree Depot IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 6,499,800 Equity Shares of Rs.10/ each.
Issue Size: 10,000,800 Equity Shares of Rs.10 each, aggregating to Rs.160.01 Cr.
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Saraswati Saree Depot IPO – Live Performance
The listing date of this IPO is August 20, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Saraswati Saree Depot Share Price |
Saraswati Saree Depot IPO Grey Market Premium
The Saraswati Saree Depot Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Saraswati Saree Depot IPO – Company Overview
Saree is an ethnic wear garment which has its origin in India and is one of the most popular readymade garments in India which is worn on casual occasions as well as on festive occasions. A saree typically ranges from six to nine yards in length and can be worn in several ways.
In India, there are different kind of sarees which are prevalent with Indian women. The most prevalent sarees include silk sarees, cotton sarees, synthetic fibre sarees etc. Apart from these prevalent fabric sarees, there are blends and mixtures of fabrics in which sarees are available across the saree industry in India. The demand for the saree market in India in recent years has come from growth in the wedding and celebration wear market.
However, the industry is seeing a change in consumer buying patterns as customers are seeking quality and premium products. The change in the buying pattern has resulted in players selling higher priced sarees than the value range sarees
Saraswati Saree Depot IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Total Assets |
2,059.37
|
1,888.53
|
1,699.31
|
| *Total Revenue |
6,125.80
|
6,035.18
|
5,503.08
|
| Total Expense |
5,739.26
|
5,726.46
|
5,338.19
|
| Profit After Tax |
295.28
|
229.74
|
123.08
|
Earnings per Equity Share (in Million)
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Basic & Diluted |
8.92
|
6.94
|
3.72
|
Further, their PAT for the period ended on March 31, 2024, March 31, 2023, and March 31, 2022, were Rs. 295.28 Million, Rs. 229.74 Million and Rs. 123.08 Million respectively.
Saraswati Saree Depot IPO – Promoters
The Promoter of this company is:
-
MAHESH DULHANI
-
RAJESH DULHANI
-
SHANKAR DULHAN
-
VINOD DULHANI
List of Related Parties (Key Managerial Personnel)
- Shankar Dulhani, Chairperson and Executive Director
- Vinod Dulhani, Managing Director and Chief Executive Officer
- Mahesh Dulhani, Executive Director
- Rajesh Dulhani, Executive Director
Saraswati Saree Depot IPO – Promoters Holding
- Pre-Issue Share Holding – 100%
- Post-Issue Share Holding – 74.75%
Saraswati Saree Depot IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 10,000,800 Equity Shares aggregating up to Rs.160.01 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 33,100,000 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Saraswati Saree Depot IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding working capital requirements of their Company; and
- General corporate purposes
Saraswati Saree Depot IPO – Business Strategy
- Strengthening Inventory Management Practices
- Entering into the men’s ethnic wear segment
-
Leverage technology to bring cost efficiency and enhance customer experience
- Capitalize on the increasing e-commerce for penetration in retail and wholesale category
Saraswati Saree Depot IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Diversified supplier and customer base
-
Diverse product portfolio
-
Bulk buying capabilities
- Experienced Promoters and a strong management team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-24 |
8.92
|
45.49%
|
19.61
|
| 31-Mar-23 |
6.94
|
64.93% | – |
| Mar-22 |
3.72
|
99.20% | – |
Saraswati Saree Depot IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Saraswati Saree Depot Limited | 10 | [●] |
8.92
|
45.49%
|
6,109.04 |
| Listed Peers | |||||
|
Go Fashion (India) Ltd
|
10 |
71.80
|
15.32
|
13.71%
|
7,628.28
|
| Sai Silks (Kalamandir) Limited | 10 |
21.34
|
7.51
|
9.49%
|
13,735.50
|
Saraswati Saree Depot IPO Lead Managers
| Lead Managers |
| UNISTONE CAPITAL PRIVATE LIMITED A/ 305, Dynasty Business Park, Andheri-Kurla Road, Andheri East, Mumbai –400 059, Maharashtra, India. Telephone:+91 022-46046494 Email: mb@unistonecapital.com Investor grievance email: compliance@unistonecapital.com Contact Person:Brijesh Parekh Website: www.unistonecapital.com SEBI registration number: INM000012449 CIN: U65999MH2019PTC330850 |
Saraswati Saree Depot IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai –400 093, Maharashtra, India. Telephone:+91 22-62638200; Facsimile:+91 22-63638280 Email: ipo@bigshareonline.com; Investor grievance email:investor@bigshareonline.com Contact Person:Babu Rapheal C. Website: www.bigshareonline.com SEBI Registration Number: INR000001385 CIN: U99999MH1994PTC076534 |
Saraswati Saree Depot IPO – Other Details
- Statutory Auditor – M/s. Sanjay Vhanbatte and Co
- Legal Counsel to the Company – M/s. Alliance Law
- Bankers to the Company – HDFC Bank Limited
Saraswati Saree Depot IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Saraswati Saree Depot Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Saraswati Saree Depot IPO Review FAQs
Check out various FAQs related to the Saraswati Saree Depot IPO:
What is the Issue Size of Saraswati Saree Depot IPO?
The Company is making an initial public offer of 10,000,800 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of the Saraswati Saree Depot IPO?
The price band for this particular IPO ranges between Rs 152 to Rs 160. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Saraswati Saree Depot IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on August 12, 2024, while the closing date is set at August 14, 2024.
What is the Saraswati Saree Depot IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on August 16, 2024, refund initiation is on August 19, 2024, credit of shares is on August 19, 2024, and share listing date is on August 20, 2024.
What is the Saraswati Saree IPO Listing Date?
Shares of this company shall be listed in the exchanges on August 20, 2024. The date, when the listing would be done, is stagnant on August 20, 2024.
Who is the Registrar of Saraswati Saree IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Saraswati Saree IPO?
Here are the promoters of this IPO – MAHESH DULHANI, RAJESH DULHANI, SHANKAR DULHANI AND VINOD DULHANI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Saraswati Saree IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Saraswati Saree Depot IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Saraswati Saree Depot Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2024 in Million is 295.28, 2023 is 229.74, and 2022 is 123.08.
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