Saraswati Saree Depot IPO day 2: GMP jumps, review, subscription status, other details. Is it good to buy today?

Saraswati Saree Depot IPO: Saraswati Saree Depot Limited's initial public offering (IPO) hit the Indian primary market today. As per the BSE and NSE website schedule, the Saraswati Saree Depot IPO subscription will remain open until 14 August 2024. So, the public issue will open for bidders from Monday to Wednesday this week. The women's apparel company has fixed the Saraswati Saree Depot IPO price band at ₹152 to ₹160 per equity share.

Saraswati Saree Depot IPO is proposed for listing on BSE and NSE. The company aims to raise 160.01 crore from its initial offer, of which ₹104 crore is aimed through fresh shares. Meanwhile, ahead of the Saraswati Saree Depot IPO opening, shares of the company are available in the grey market. According to stock market observers, Saraswati Saree Depot IPO GMP (grey market premium) today is ₹34.

Saraswati Saree Depot IPO subscription status

By 2:48 PM on day two of bidding, the public issue had been booked 13.03 times, the retail portion of the book build issue 17.14 times, and the NII segment 42.69 times. The QIB portion of the public offer was subscribed 1.25 times.

Important Saraswati Saree Depot IPO details

1] Saraswati Saree Depot IPO GMP: According to market observers, the women's apparel company shares are available at a premium of ₹53 in the grey market today. On Monday, Saraswati Saree Depot IPO GMP was ₹34.

2] Saraswati Saree Depot IPO price: The company has a fixed price band of the public issue at ₹152 to ₹160 apiece.

3] Saraswati Saree Depot IPO date: The public issue will remain open for bidders from 12 to 14 August 2024.

4] Saraswati Saree Depot IPO size: The company aims to raise ₹160.01 crore from its offer, of which ₹104 crore is aimed at fresh issues. The rest, ₹56.01 crore, is reserved for the offer for sale (OFS).

5] Saraswati Saree Depot IPO lot size: A bidder can apply in lots, and one lot of the book build issue comprises 90 company shares.

6] Saraswati Saree Depot IPO allotment date: Share allocation is most likely on Friday, August 16th, 2024.

7] Saraswati Saree Depot IPO registrar: Bigshare Services Private Limited has been appointed official registrar of the mainboard IPO.

8] Saraswati Saree Depot IPO listing date: In the wake of the 'T+3' listing rule, the initial offer may list on 20th August 2024, i.e. on Tuesday next week.

9] Saraswati Saree Depot IPO lead manager: Unistone Capital Private Limited has been appointed lead manager of the running issue.

Saraswati Saree Depot IPO: Apply or not?

10] Saraswati Saree Depot IPO review: Giving a 'subscribe' tag to the public issue, Akriti Mehrotra, Research Analyst at StoxBox, said, "Saraswati Saree Depot Ltd. (SSDL) offers a unique investment opportunity with its well-established B2B saree wholesale business, which serves a large network of semi-wholesalers and retailers. The company's focus on sarees, complemented by a successful diversification into kurtis, dress materials, and men's suits, has driven substantial growth in revenue and profitability. SSDL's strategic initiatives in inventory management, expansion into men's ethnic wear, and a growing e-commerce platform are expected to fuel further growth. With a P/E ratio of 17.9x based on FY24 earnings, the IPO is attractively priced, making it a "SUBSCRIBE" for investors with a medium to long-term perspective."

Ventura Securities has also assigned a 'subscribe' tag to the public issue, saying, "Financially, SSDL has shown consistent growth over the years. In FY24, the company achieved total sales of over INR 6,000 mn, a significant increase from INR 4,094 mn in FY21. The company's PAT has also grown impressively, from INR 34.51 mn in FY14 to INR 126.12 mn in FY21, reflecting a CAGR of 20.34%. As SSDL prepares for its upcoming IPO with an offer size of approximately INR 1,600 mn, it aims to leverage this capital to fund its working capital requirements and pursue general corporate purposes, positioning itself for further expansion and market dominance."

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.