Saraswati Saree Depot Limited IPO

Saraswati Saree Depot Limited IPO opens on August 12, 2024, and closes on August 14, 2024. The allotment for the Saraswati Saree Depot Limited IPO is anticipated to be completed on Friday, August 16, 2024. The IPO will be listed on the BSE and NSE, with a tentative date set for Tuesday, August 20,2024.

The Saraswati Saree Depot Limited IPO’s price band is Rs 152 to Rs 160 per share. The IPO is a book-built issue of Rs 160.01 crores, entirely a fresh issue of 0.65 crores shares.

Saraswati Saree Depot IPO Details

Saraswati Saree Depot IPO Lot Size

Saraswati Saree Depot IPO Objectives

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

1. Funding the working capital requirements of the company.
2. General Corporate Purpose.

About Saraswati Saree Depot Limited

Incorporated in 1996, Saraswati Saree Depot Limited is engaged in manufacturing and wholesale women’s apparel.

The company’s primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women’s apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.

The company regularly sources sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India. Currently, our product catalog lists more than 300,000 different SKUs. The company majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka, and Tamil Nadu and the company has served more than 13,000 unique customers in fiscal 2024. The company stores offer saree products categorized by occasion, fabric, weave, and ornamentation. Over 90 percent of the company’s revenue comes from saree sales.

As of June 30, 2024, the company had an employee base of 314 employees in various departments.

Saraswati Saree Depot Limited Financial Information

Saraswati Saree Depot Limited’s revenue increased by 2% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2024 and March 31, 2023.

Saraswati Saree Depot IPO Reservation

Saraswati Saree Depot IPO Timeline

Saraswati Saree Depot IPO opens on August 12, 2024, and closes on August 14, 2024.

Conclusion

The Saraswati Saree Depot Limited IPO presents an opportunity for investors to engage with a well-established player in the women’s apparel wholesale market. With a strong focus on sarees and a growing footprint in southern and western India, the company is set to raise Rs 160.01 crores through this IPO. The funds will be primarily used to bolster working capital and support general corporate activities. Investors should consider this IPO, which offers shares in the price range of Rs 152 to Rs 160, as a potential addition to their portfolio.