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Saraswati Saree Depot IPO Sees Over 100x Subscription! What GMP Signals Ahead of Tomorrow’s Listing?

The Initial Public Offering (IPO) of Saraswati Saree Depot Ltd, a women’s clothing manufacturer, saw strong interest from investors. The IPO closed on August 14 with a high subscription rate of over 100 times.

The allotment for the Saraswati Saree Depot IPO has been completed, and investors are now waiting for the listing of the shares, which is scheduled for Tuesday, August 20.

As the listing approaches, many are keeping an eye on the Grey Market Premium (GMP) for Saraswati Saree Depot shares, which helps estimate the listing price.

Saraswati Saree Depot IPO GMP Today

According to market experts, the GMP for Saraswati Saree Depot shares is ₹48 per share. This suggests that the shares are expected to list at ₹208 per share, which is 30% higher than the issue price of ₹160 per share. However, it’s important to remember that GMP is only an estimate and should not be the sole factor for investment decisions.

Saraswati Saree Depot IPO Details

The IPO was open for public subscription from August 12 to August 14, and the allotment was finalised on August 16. The shares will be listed on BSE and NSE on August 20.

The price band for the IPO was set between ₹152 and ₹160 per share. At the top of this range, the company raised ₹160.01 crore, with ₹104 crore coming from a fresh issue of 65 lakh shares, and ₹56.02 crore from an offer for sale of 35 lakh equity shares.

The proceeds from the IPO will be used to fund working capital needs and general corporate purposes.

The IPO was highly subscribed, receiving bids for 107.52 crore equity shares compared to 1 crore shares offered. The breakdown of subscriptions was 61.88 times for retail investors, 64.12 times for Qualified Institutional Buyers (QIBs), and 358.65 times for Non-Institutional Investors (NIIs).

Unistone Capital Pvt Ltd was the lead manager for the IPO, and Bigshare Services Pvt Ltd was the IPO registrar.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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