Saraswati Saree Depot IPO: GMP hints listing gains; check likely price

Priced in the range of Rs 152-160 per share with a lot size of 90 shares, the public issue received great demand from investors, with the IPO being subscribed 107.39 times by final day of subscription

Saraswati Saree Depot IPO listing price prediction: The unlisted shares of Saraswati Saree Depot IPO, which closed for subscription on Wednesday, August 14, 2024, continue to command a strong premium in the grey market ahead of their listing, indicating solid listing gains for investors. Priced in the range of Rs 152-160 per share with a lot size of 90 shares, the public issue received great demand from investors, with the IPO being subscribed 107.39 times by the final day of subscription.

The allotment for Saraswati Saree Depot IPO shares was finalized on Friday, August 16, 2024. Now, investors await the listing of the company’s shares on the bourses, including BSE and NSE, scheduled for tomorrow, Tuesday, August 20, 2024.

 

Saraswati Saree Depot IPO grey market premium (GMP)

According to several websites that track grey market activities, the shares of Saraswati Saree Depot are commanding a grey market premium (GMP) of around Rs 46, translating to approximately a 29 per cent gain over the upper end of the IPO price, as of Monday, August 19, 2024. This indicates a positive listing for the company’s shares on the exchanges.

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Saraswati Saree Depot IPO expected listing price

If the current trends in Saraswati Saree Depot IPO GMP sustain, Saraswati Saree Depot shares may list at around Rs 206 (IPO GMP + upper band of the issue price) on the exchanges. Investors who have been allotted the company’s shares may expect gains of around 29 per cent upon the listing of Saraswati Saree Depot shares.

Saraswati Saree Depot IPO details

The public issue of Saraswati Saree Depot comprised a fresh issue of 6,499,800 shares worth approximately Rs 104 crore and an offer for sale (OFS) of 3,501,000 shares with a face value of Rs 10 apiece, totaling around Rs 56.02 crore. The company will use the net proceeds from the IPO to fund its working capital requirements and for general corporate purposes, as per the RHP papers.

About Saraswati Saree Depot

Saraswati Saree Depot Limited is a leading wholesale (B2B) saree supplier in India. In addition to sarees, the company also wholesales a range of women’s apparel, including kurtis, dress materials, blouse pieces, lehengas, and bottoms. Notably, saree sales account for over 90 per cent of the company’s total revenue on average.