The initial public offering (IPO) of Saraswati Saree Depot Limited will be listed today, August 20, 2024. This means that from 10:00 AM, Saraswati Saree Depot shares will be available for trading. According to the Bombay Stock Exchange (BSE), these shares will be listed under the ‘T’ group of securities.
Stock market experts believe that the IPO of Saraswati Saree Depot received a good response from investors. They predict that the shares may list at a price between ₹200 to ₹210 per share, offering a potential gain of up to 30% for those who were allotted shares. The grey market also suggests that there could be decent profits for shareholders, with the current grey market premium (GMP) being ₹48.
Regarding the expected listing price, Akriti Mehrotra, a Research Analyst at Stoxbox, mentioned that Saraswati Saree Depot is likely to make a solid market debut, with shares possibly listing at a 20% to 25% premium. The company has a strong presence in the B2B saree wholesale market and has expanded into other clothing items like kurtis and dress materials, which has boosted its revenue and profits.
Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, added that while most of the company’s revenue (90%) comes from saree sales, it also earns from other clothing items. Based on the company’s earnings, the shares are expected to list at around ₹200 to ₹210 per share.
In the grey market, Saraswati Saree Depot shares are trading at a premium of ₹48, indicating that the shares might list at around ₹208, which is about 30% higher than the IPO’s upper price band of ₹160.
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