Saraswati Saree Depot IPO: What GMP signals ahead of listing tomorrow?

Saraswati Saree Depot IPO: The initial public offering (IPO) of women’s apparel manufacturer Saraswati Saree Depot Ltd received robust demand from investors. Saraswati Saree Depot IPO closed on August 14 with a subscription of more than 100 times.

Saraswati Saree Depot IPO allotment has also been finalised and investors now await the IPO listing scheduled on Tuesday, August 20.

Ahead of the Saraswati Saree Depot IPO listing, investors watch out for the Saraswati Saree Depot IPO GMP today, or grey market premium today, in order to see the estimated listing price.

Saraswati Saree Depot IPO GMP ahead of listing indicates that the company’s shares are expected to list higher than their issue price. Here’s the Saraswati Saree Depot IPO GMP ahead of the listing:

Saraswati Saree Depot IPO GMP Today

Saraswati Saree Depot shares are trading at a decent premium in the unlisted market. Saraswati Saree IPO GMP today is ₹48 per share, according to stock market experts. This indicates that Saraswati Saree Depot shares are trading higher by ₹48 in the grey market than their issue price.

Considering the Saraswati Saree Depot IPO GMP and the issue price, the estimated listing price of Saraswati Saree Depot is ₹208 apiece, a premium of 30% to the IPO price of ₹160 per share.

It is to be noted that the GMP is just an indicative price and should not be considered for investment or trading decisions.

Saraswati Saree Depot IPO Details

Saraswati Saree Depot IPO opened for public subscription on Monday, August 12, and closed on Wednesday, August 14. Saraswati Saree Depot IPO allotment date was August 16, and the Saraswati Saree Depot IPO listing date is August 20. The equity shares of Saraswati Saree Depot Ltd will be listed on both the stock exchanges, BSE and NSE.

Saraswati Saree Depot IPO price band was set at ₹152 to ₹160 per share. At the upper-end of the price band, the company raised ₹160.01 crore from the book-built issue which was a combination of fresh issue of 65 lakh shares aggregating to ₹104.00 crore and an offer for sale (OFS) component of 35 lakh equity shares worth ₹56.02 crore.

The company plans to utilize the net issue proceeds for funding working capital requirements and general corporate purposes.

The public issue was subscribed 107.52times in total as the IPO received bids for 107.52 crore equity shares as against 1 crore shares on the offer, according to data available on NSE. The IPO was subscribed 61.88 times in the retail category, 64.12 times in the Qualified Institutional Buyers (QIB) category, and 358.65 times in the Non Institutional Investors (NII) category.

Unistone Capital Pvt Ltd is the book running lead manager of the Saraswati Saree Depot IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

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