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The initial public offering of Saraswati Saree Depot Limited received a fantastic response from the investors as the issue was subscribed more than 107 times on its third and final day on Wednesday, led by demand from non-institutional investors.
Subscription Status: Day 3
The IPO was subscribed 107.52 times as of 5:30 p.m. on Wednesday.
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Qualified institutional buyers: 64.12 times.
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Non-institutional investors: 358.65 times.
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Retail investors: 61.88 times.
The allotment for Saraswati Saree Depot IPO will be finalised on Friday, August 16. Investors who bid for the issue can check Saraswati Saree Depot IPO allotment status on Bigshare Services Pvt Ltd and the BSE website by following the steps provided below.
The initial public offering of Saraswati Saree Depot Limited just stood outside the top 10 most subscribed IPOs of 2024 at 11th position, just below Awfis Space Solutions.
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Visit the official website of Bigshare Services here: https://www.bigshareonline.com/ipo_Allotment.html
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Select any one server to check your IPO Allotment Status.
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Choose "Saraswati Saree Depot Limited" from the list of companies.
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In the Selection Type dropdown, choose either Application number, Beneficiary ID, or PAN ID.
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Enter the required information, which could be your application number, PAN (Permanent Account Number), or Beneficiary ID.
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Complete the 'captcha' to verify that you are not a robot.
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Finally, click the "Search" button to check your allotment status.
How to check Saraswati Saree Depot Limited allotment status on BSE India
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Go to the official BSE website: https://www.bseindia.com/investors/appli_check.aspx
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Select the issue type as 'Equity.'
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Choose "Saraswati Saree Depot Limited" from the dropdown menu.
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Enter your application number or PAN (Permanent Account Number).
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Complete the 'Captcha' for verification.
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Click on the "Search" button to view your allotment status.
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Download or print the allotment status for your records.
Saraswati Saree Depot IPO Listing Date
The shares of Saraswati Saree Depot Limited are set to be listed on Bombay Stock Exchange and National Stock Exchange on Tuesday, August 20.
Shares of Saraswati Saree Depot Limited will be transferred to your demat account a day beforethe listing of the IPO at BSE and NSE.
Investors who failed to secure the shares can check their bank account to know the IPO refund status. Generally, you will receive a refund/unblocking notification on the IPO refund initiation date.
Saraswati Saree Depot IPO: All You Need To Know
The public issue consisted of a fresh issue of 64.9 lakh shares and an offer-for-sale component consisting of 35.01 lakh shares. The minimum lot size for bidding was 90 shares, with further bids to be made in multiples. The offering was subscribed 16.34 times on the second day on Tuesday and 4.37 times on the first day, led by non-institutional and retail investors. The price band is Rs 152–160 per share.
Tejas Dulhani, Amar Dulhani, and Shevakram Dulhani are the promoter group selling shareholders. Unistone Capital Pvt. will be the sole book-running lead manager for the IPO.
About Saraswati Saree Depot Limited
Saraswati Saree Depot Limited, founded in 1996, is a company that specialises in manufacturing and wholesaling women's apparel, primarily sarees. With a product catalogue of over 300,000 items, the company sources its products from more than 900 weavers and suppliers across India. Most of its sales are in Maharashtra, Goa, Karnataka, and Tamil Nadu, where it has served over 13,000 customers in 2024 alone.
Funds collected through the fresh issue will be used to support working capital requirements and for general corporate purposes.
. Read more on IPOs by NDTV Profit.