Saraswati Saree Depot IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP

Saraswati Saree Depot, a notable player in the wholesale saree segment, is gearing up for an Initial Public Offering (IPO) that marks a significant chapter in its journey.

Headquartered in Maharashtra, the company, with a multi-generational management team, has become a key name in ethnic wear, encompassing sarees, kurtis, lehengas, and other women’s garments.

The IPO is strategically designed to propel the company’s growth, focusing on working capital needs and general corporate objectives. This move reflects Saraswati Saree Depot’s aspirations for financial stability and a broader market presence, offering investors an opportunity to be part of its expansion story. Read ahead to learn more.

Saraswati Saree Depot IPO Overview

Maharashtra’s Saraswati Saree Depot plans an IPO, comprising a fresh issue of 72.45 lakh equity shares and a 35.55 lakh-share offer-for-sale (OFS) by the promoter group, including Tejas, Amar, Shevakram, Sujandas, Tushar, and Nikhil Dulhani.

The IPO aims to raise capital for working capital needs and general corporate purposes. Over 90 per cent of the business stems from saree sales, with the company also engaged in wholesale women’s apparel.

This strategic move reflects the company’s bid for financial stability and growth. The IPO provides an opportunity for investors to be part of Saraswati Saree Depot’s market expansion.

Saraswati Saree Depot IPO Important Dates

Saraswati Saree Depot’s eagerly awaited Initial Public Offering (IPO) has created a buzz in the financial landscape. While the specific dates remain undisclosed, the anticipation is palpable.

Investors and stakeholders are keenly awaiting the official announcement regarding the IPO schedule. Key dates, including the opening and closing of the subscription period, allotment, and listing, are crucial markers that will shape the trajectory of this IPO.

Saraswati Saree Depot IPO Price, Size, Share Offerings

As Saraswati Saree Depot prepares for its Initial Public Offering (IPO), specific details regarding the IPO price, size, and share offerings are yet to be disclosed. Investors are eagerly awaiting this crucial information, which will determine the valuation and financial scope of the offering.

The IPO is expected to include a fresh issue of 72.45 lakh equity shares and an offer-for-sale (OFS) of 35.55 lakh shares by the promoter group. The pricing strategy, issue size, and the number of shares available for subscription will be unveiled in due course.

Market participants are advised to stay tuned for the forthcoming announcement, marking a pivotal step in Saraswati Saree Depot’s journey into the public market.

Saraswati Saree Depot IPO Grey Market Premium

The Grey Market Premium (GMP) for Saraswati Saree Depot’s Initial Public Offering (IPO) is a topic of keen interest among investors and market enthusiasts. The GMP is an unofficial market indicator that reflects the difference between the IPO’s expected and actual market price before listing.

However, as of now, there is no available data on the Grey Market Premium for Saraswati Saree Depot’s IPO. Investors are eagerly awaiting insights into the GMP, which typically provides an early indication of market sentiment and demand for the IPO shares.

Saraswati Saree Depot IPO Subscription Status

As anticipation builds around the Saraswati Saree Depot Initial Public Offering (IPO), the subscription status remains a key metric yet to be disclosed. Investors are eagerly awaiting details regarding the level of interest and participation in the IPO.

The subscription status, indicating the number of times the offered shares have been subscribed, provides crucial insights into market sentiment.

As of now, no data is available regarding the subscription status. Investors and stakeholders are advised to stay tuned for the release of this information, which will play a pivotal role in shaping perceptions and expectations surrounding Saraswati Saree Depot’s debut in the public market.

Saraswati Saree Depot IPO Allotment Status

The eagerly anticipated Saraswati Saree Depot IPO Allotment Status remains pending, with no data available at the current juncture. Investors and stakeholders are keenly awaiting updates on the allotment status, a crucial step in the IPO process where shares are allocated to successful subscribers.

The allotment status provides insight into the distribution of shares and allows investors to track their participation in the offering.

As of now, the company or the relevant authorities have not released this information. Investors are encouraged to stay tuned for the official announcement, marking a key milestone in Saraswati Saree Depot’s journey into the public market.

Saraswati Saree Depot IPO Live Performance

As the financial community eagerly monitors Saraswati Saree Depot’s Initial Public Offering (IPO), live performance metrics are yet to be unveiled. The IPO’s live performance encompasses factors such as opening and closing prices, subscription levels, and market sentiment.

However, as of now, no data is available regarding the real-time performance of Saraswati Saree Depot’s IPO. Investors and market enthusiasts are keenly anticipating this information, which will provide insights into the IPO’s reception in the market.

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Latest Saraswati Saree Depot IPO News

As of the latest update, there is no specific information available regarding the Saraswati Saree Depot IPO. The details regarding the IPO price, size, share offerings, and important dates are yet to be released. Investors and market enthusiasts are eagerly awaiting official announcements from Saraswati Saree Depot and relevant regulatory authorities.

As developments unfold, it is advisable to stay tuned to official channels and financial news sources for the most recent updates on Saraswati Saree Depot’s Initial Public Offering. The absence of current data underscores the importance of monitoring reliable sources for breaking news and insights into this anticipated IPO.

Saraswati Saree Depot – Company Review

Saraswati Saree Depot Limited (SSDL) stands as a distinguished wholesaler in the realm of ethnic wear, specializing in sarees, kurtis, lehengas, and other women’s garments. Boasting a multi-generational management team and a workforce enriched with decades of experience, the company has established a robust network nationwide and garnered a loyal customer base.

The core ethos revolves around catering to diverse customer needs, ranging from aspiring home entrepreneurs to established retailers in prominent towns and cities.

Founded on March 18, 2021, SSDL is a Public Limited Indian Non-Government Company headquartered in Kolhapur, Maharashtra. The company’s commitment to the trading of clothing articles, fur, and clothing accessories underscores its role in the fashion industry. With its roots in Kolhapur and a presence in Ulhasnagar, SSDL not only envisions expanding its operational footprint but also aims to play a pivotal role in the industry’s overall growth.

Products or Services

Saraswati Saree Depot Limited (SSDL) distinguishes itself as a Maharashtra-based wholesaler offering an extensive range of ethnic wear. Specializing in sarees, kurtis, lehengas, and women’s apparel, SSDL caters to a broad spectrum of customers, from budding home entrepreneurs to established retailers in prominent towns and cities. SSDL’s product line showcases a rich diversity of clothing articles, including fur and accessories, aligning with its commitment to the trading business.

Promoters and Holding

As of the current Draft Red Herring Prospectus, Saraswati Saree Depot Limited is championed by its promoters: Mahesh Dulhani, Rajesh Dulhani, Shankar Dulhani, and Vinod Dulhani. Collectively, these visionaries hold an aggregate of 14,067,500 Equity Shares, constituting 42.50% of the issued, subscribed, and paid-up pre-offer Equity Share capital of the company.

The significant promoter holding underscores their vested interest and confidence in the company’s growth trajectory.

Is Saraswati Saree Depot Good for Investment?

A stalwart in the sarees wholesale sector since 1966, Saraswati Saree Depot Limited has evolved into a key player in the B2B segment, as affirmed by a CRISIL Report. Boasting a diverse product catalogue, the company engages not only in sarees but also in wholesale women’s apparel, with over 90% of revenues attributed to saree sales.

In Fiscal 2023, the company served 15,000 unique customers and managed a product catalog featuring over 300,000 SKUs.

The Indian saree market, expected to grow at a 5-6% CAGR, is witnessing a shift toward quality and premium products. Saraswati Saree Depot, rooted in a rich history since 1966, continues to thrive, recording sales exceeding Rs 6,000 million in Fiscal 2023. The company’s strategic evolution, from traditional sarees to a diverse apparel portfolio, underscores its adaptability and sustained success.

Saraswati Saree Depot Financial Statements

Saraswati Saree Depot IPO Review

Saraswati Saree Depot, a key player in the sarees wholesale segment, has filed for an IPO after showcasing robust financial performance in the fiscal year ending March 31, 2023. With total income reaching Rs 6,035.18 million and a notable profit of Rs 308.72 million before exceptional items and tax, the company demonstrates financial strength.

The positive cash flow from operating activities, standing at Rs 351.92 million, highlights effective working capital management. Saraswati Saree Depot’s IPO comes at a promising juncture, reflecting the company’s resilience and growth potential in the dynamic market, setting the stage for investor interest and market expansion.

Saraswati Saree Depot IPO Details

Here are a few more details you need to know before investing in Saraswati Saree Depot IPO –

Saraswati Saree Depot IPO Issue Object

Thus, Saree Depot has proposed diverse objectives for making the IPO offer and some of the objectives are:

• Funding working capital requirements of our Company; and
• General corporate purposes

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
• Vast and versatile product portfolio for women
• Ability to buy in bulk quantities
• Experienced Promoters and a strong management team
• Existing client and supplier relationships
• Collaborative and experienced workforce

Quantitative factors are:

Saraswati Saree Depot IPO Lead Managers

Here is the list of Lead managers –

• UNISTONE CAPITAL PRIVATE LIMITED

Saraswati Saree Depot IPO Registrar to offer

Check out the details of the registrar here –

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 Verdict by Stock Brokers

The Saraswati Saree Depot IPO presents a compelling opportunity for investors, backed by the company’s robust financial performance in the fiscal year ending March 31, 2023.

The positive cash flow from operating activities further underscores effective management. As the company enters the IPO market, its strong position in the sarees wholesale segment and the promising trends in the Indian saree market position Saraswati Saree Depot as an attractive investment prospect, making the IPO worth considering for investors.

Saraswati Saree Depot IPO – Conclusion

The forthcoming Saraswati Saree Depot IPO signifies a strategic move for the Maharashtra-based company, aiming to issue 72.45 lakh fresh equity shares and a 35.55 lakh-share offer-for-sale (OFS) by the promoter group. Intended to generate funds for working capital and general corporate purposes, the IPO aligns with the company’s focus on financial stability and growth.

As over 90 per cent of the business revolves around saree sales, Saraswati Saree Depot’s foray into the public market provides investors an opportunity to participate in its market expansion. With key IPO dates yet to be unveiled, stakeholders await crucial information for a comprehensive evaluation.

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Saraswati Saree Depot IPO Review FAQs

Check out the FAQs on Saraswati Saree Depot IPO –

What is the Issue Size of Saraswati Saree IPO?

The Company is making an initial public offer of 10,800,000 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 IPO?

The price band for this particular IPO ranges between Rs.NA to Rs. NA. As far as the face value of the share is concerned, it is Rs.10 per share.

What is the Saraswati Saree IPO Open Date?

The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.

What is the Saraswati Saree IPO Allotment Date?

They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.

What is the Saraswati Saree Depot IPO Listing Date?

Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.

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 DULHANIAND VINOD DULHAN. 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 also included in this report.

Is Saraswati Saree 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 2023 in Million is 229.74, 2022 is 123.08, and 2021 is (0.00).

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