Saraswati Saree Depot IPO will open for subscription from 12 August 2024. The company aims for an issue size of ₹160.01 Cr through this IPO.
Company Overview
| Full name | Saraswati Saree Depot Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.saraswatisareedepot.com/home |
About Company
Saraswati Saree Depot is engaged in the wholesale trade of sarees and other women’s clothing such as Kurtis, Dress materials, Blouses, Lehengas, Bottoms, etc. On average, more than 90% of its total revenue comes from selling sarees. In FY 2024, the company served more than 13,000 private customers and its product catalog includes more than 3,00,000 different storage units.
Following the business growth, the company shifted operations to the newly-constructed Uchgaon premises in Kolhapur, Maharashtra in 2015, spanning over 169,120 sq ft with designated sections for different varieties of sarees and other apparel wear. The company regularly sources sarees and other women’s wear from over 900 weavers/suppliers across various states of India. The company primarily sells its products in the southern and western regions of Maharashtra, Goa, Karnataka, and Tamil Nadu.
The Objectives of the Issue
- Funding working capital requirements of the company.
- General corporate purposes.
Saraswati Saree Depot IPO Timetable
| IPO Opening date | 12 August 2024 |
| IPO Closing | 14 August 2024 |
| Basis of Allotment | 16 August 2024 |
| Initiation Refund | 19 August 2024 |
| Credit to Demat Account | 19 August 2024 |
| Listing Date | 20 August 2024 |
Saraswati Saree Depot IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹160.01 Cr – 10,000,800 shares |
| Fresh Issue | ₹104.00 Cr – 6,499,800 shares |
| Offer for sale | ₹56.02 Cr – 3,501,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹152 to ₹160 per share |
| Lot size | 90 Shares |
| Shareholding pre-issue | 33,100,000 |
| Shareholding post-issue | 39,599,800 |
| Listing Exchange | BSE & NSE |
Saraswati Saree Depot IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,400 |
| Retail (Max) | 13 | 1170 | ₹187,200 |
| S-HNI (Min) | 14 | 1,260 | ₹201,600 |
| S-HNI (Max) | 69 | 6,210 | ₹993,600 |
| B-HNI (Min) | 70 | 6,300 | ₹1,008,000 |
Saraswati Saree Depot Offer Documents
Saraswati Saree Depot IPO Reservation Details
Saraswati Saree Depot IPO offers 10,000,800 shares. 5,000,400 (50.00%) to QIB, 1,500,120 (15.00%) to NII, 3,500,280 (35.00%) to RII. 38,892 RIIs will receive minimum 90 shares and 396 (sNII) and 793 (bNII) will receive minimum 1,260 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | – | NA |
| QIB Shares Offered | 5,000,400 (50.00%) | NA |
| NII (HNI) Shares Offered | 1,500,120 (15.00%) | |
| bNII > ₹10L | 1,000,080 (10.00%) | 793 |
| sNII < ₹10L | 500,040 (5.00%) | 396 |
| Retail Shares Offered | 3,500,280 (35.00%) | 38,892 |
| Total Shares Offered | 10,000,800 (100%) |
Saraswati Saree Depot Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 549.58 | 601.89 | 610.90 |
| Expenses | 533.82 | 572.65 | 573.93 |
| Net income | 12.31 | 22.97 | 29.53 |
| Margin (%) | 2.24 | 3.82 | 4.83 |
Saraswati Saree Depot Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 3.72 | 6.94 | 8.92 | 7.46 |
| PE Ratio | – | – | 17.04 – 17.93 | 20.38 – 21.46 |
* Calculated on the basis of annualized Profits After Tax for FY 2024
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 99.20 | 64.93 | 45.49 |
| NAV | 3.75 | 10.69 | 19.61 |
| ROCE (%) | 169.07 | 98.03 | 64.46 |
| EBITDA (%) | 3.79 | 5.66 | 6.73 |
| Debt/Equity | 5.37 | 1.17 | 0.67 |
Saraswati Saree – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Saraswati Saree | 17.93 | 8.92 | 45.49 | 19.61 | 610.90 |
| Go Fashion (India) | 71.80 | 15.32 | 13.71 | 111.81 | 762.83 |
| Sai Silks (Kalamandir) | 21.34 | 7.51 | 9.49 | 72.14 | 1,373.55 |
Company Promoters
- Mr. Shankar Dulhani
- Mr. Mahesh Dulhani
- Mr. Rajesh Dulhani
- Mr. Vinod Dulhani
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 74.75% |
Saraswati Saree Depot Offer GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 14 August 2024 | 70 | – | 4,200 |
| 13 August 2024 | 50 | – | 4,200 |
| 12 August 2024 | 32 | – | 2,600 |
| 10 August 2024 | 30 | – | 2,500 |
| 9 August 2024 | 25 | – | 1,500 |
Saraswati Saree Depot IPO Subscription Update
| Category | Subscription (times) |
|---|---|
| QIB | 64.12 |
| NII | 358.47 |
| bNII (bids above ₹10L) | 389.28 |
| sNII (bids below ₹10L) | 296.85 |
| Retail | 61.59 |
| Total | 107.39 |
Saraswati Saree Depot IPO Allotment Status
Saraswati Saree IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Saraswati Saree Depot IPO Listing Details
| Listing Date | 20 August 2024 |
| BSE Scrip Code | Coming soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | BSE & NSE |
| Final Issue Price | Coming soon |
| Open | |
| Low | |
| High | |
| Last Trade |
Saraswati Saree Depot IPO Lead Manager(s)
UNISTONE CAPITAL PRIVATE LIMITED
A/305, Dynasty Business Park, Andheri Kurla Road,
Andheri East, Mumbai 400059, Maharashtra
Phone: +91 9820057533
Email: mb@unistonecapital.com
Website: www.unistonecapital.com
Saraswati Saree Depot Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22-62638200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Saraswati Saree Depot Contact Details
SARASWATI SAREE DEPOT LIMITED
Sr No.144/1 Manademala, Near Tawade Hotel,
Gandhinagar Road, Uchagaon, Kolhapur,
Maharashtra – 416005
Phone: +91 9271009858
Email: cs@saraswatisareedepotlimited.com
Website: www.saraswatisareedepot.com
Saraswati Saree Depot IPO FAQs
How many shares in Saraswati Saree IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Saraswati Saree Public Offer?
The best way to apply for Saraswati Saree public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Saraswati Saree IPO GMP today?
Saraswati Saree IPO GMP today is ₹ 70 per share.
What is Saraswati Saree kostak rate today?
Saraswati Saree kostak rate today is ₹ NA per application.
What is Saraswati Saree Subject to Sauda rate today?
Saraswati Saree Subject to Sauda rate today is ₹ 4,200 per application.
Final thoughts
Saraswati Saree Depot IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
