Saraswati Saree Depot IPO shares to list on August 20: Here's what analysts say

Saraswati Saree Depot shares will be listed on the stock exchanges - the National Stock Exchange (NSE) and the BSE - on Tuesday, August 20. According to analysts, the stock will likely debut at a premium of around 25% to 30%.

The ₹160-crore public offer got bids for 1,07,39,63,880 equity shares against 1,00,00,800 shares on offer, according to the NSE data.

The non-institutional investors (NIIs) portion fetched 358.47 times the subscription, while the part set aside for qualified institutional buyers (QIBs) attracted 64.12 times the subscription. The retail investors category garnered 61.59 times the subscription.

The IPO, which had a price band of ₹152-₹160 per share, is a fresh issuance of up to 64.99 lakh equity shares and an offer for sale (OFS) component of up to 35 lakh equity shares.

The company proposes utilising the fresh issue's net proceeds to fund working capital requirements and general corporate purposes.

About Saraswati Saree Depot

The Kolhapur-based company, whose origins in the saree business date back to 1966, is also engaged in the wholesale business of women's apparel, such as kurtis, dress materials, blouse pieces, lehengas, and bottoms.

The company sources sarees from different manufacturers across India and has developed relationships in hubs like Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru.

Saraswati Saree Depot operates from two stores in Kolhapur and Ulhasnagar, Maharashtra.

Unistone Capital is the manager of the offer.

The equity shares of the firm will be listed on the BSE and the NSE.