People are fully bullish on the IPO of Kolhapur’s saree, kurti, lehenga making company

New Delhi. Saraswati Saree Depot Limited’s initial public offer (Saraswati Saree Depot IPO), which opened yesterday i.e. Monday, is getting tremendous support from investors and the grey market. This IPO will remain open for subscription till August 14, 2024. That is, you have the time of the day to bid for the shares of this IPO. By 1:40 pm on the second day of bidding, Saraswati Saree Depot IPO was subscribed 10.44 times. The portion reserved for retail investors was subscribed 14.33 times and the NII (non-institutional investor) segment was subscribed 32.01 times. The portion reserved for qualified institutional buyers (QIB) had received 1.24 times the bids. Even in the grey market, the IPO shares were trading at a 41 percent premium (Saraswati Saree IPO GMP).

Saraswati Saree Depot IPO will be listed on BSE and NSE. The company wants to raise Rs 160.01 crore through this issue. The IPO consists of a fresh issue of up to 65 lakh equity shares and an offer for sale (OFS) of up to 35 lakh equity shares by the promoter group. The company has fixed a price band of Rs 152-160 per share for its Rs 160 crore IPO.

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35% share reserved for retail investors
Up to 50 per cent of Saraswati Saree Depot’s IPO is reserved for qualified institutional buyers (QIB), at least 15 per cent for non-institutional investors (NII) and 35 per cent for retail investors. The company’s shares will be listed on NSE and BSE. The net proceeds from the issue are proposed to be used for working capital requirements and general corporate purposes.

There was a jump in GMP
Saraswati Saree Depot IPO is getting a lot of response from investors as well as in the grey market. According to IPOwatch.in, a website that keeps an eye on grey market activities, today the unlisted shares of the issue are trading at a premium of Rs 65 in the grey market. If we look at the upper price band of Rs 160, then investors are expected to get 41 percent listing gain.

(Disclaimer: Investment made in IPO is subject to market risks. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)

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