The Saraswati Saree Depot IPO is set to launch on August 12, 2024, and will close on August 14, 2024. The company aims to raise approximately ₹160.01 crores through this IPO, which includes a fresh issue of ₹56.02 crores and an offer for sale of up to 6,499,800 equity shares at a face value of ₹10 each. The IPO allocation consists of 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs).
Saraswati Saree Depot Overview:
Saraswati Saree Depot is a prominent player in the saree wholesale (B2B) market, with roots in the business dating back to 1966 (Source: CRISIL Report). In addition to sarees, they are also involved in the wholesale distribution of other women’s apparel, including kurtis, dress materials, blouse pieces, lehengas, and bottoms. Sarees account for over 90% of their total revenue. In Fiscal 2023, they served more than 15,000 unique customers, offering a vast product catalog with over 300,000 different SKUs.
In 1993, the second generation of the Dulhani family took over and consolidated their family business by merging their individual sole proprietorships into a newly formed partnership, “M/s. Saraswati Sadi Depot.” The original partnership, established by Late Laxmandas Danomal Dulhani, was dissolved in 1996.
The company sources sarees from various manufacturers across India, with long-standing relationships in key manufacturing hubs such as Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru. They regularly procure sarees and other apparel from over 900 weavers and suppliers across the country.
Objects of the Issue:
To fund the company’s working capital requirements.
For general corporate purposes.
Saraswati Saree Depot IPO Review (Apply or Not):
Recommendation: May Apply
Brokerage Firm IPO Reviews:
Capital Market: Neutral
Swastika Investmart: May Apply
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Saraswati Saree Depot IPO Date & Price Band
| IPO Open: | August 12, 2024 |
| IPO Close: | August 14, 2024 |
| IPO Size: | Approx ₹160.01 Crores, 10,800,000 Equity Share |
| Fresh Issue: | Approx ₹104.00 Crores, 6,499,800 Equity Share |
| Offer for Sale: | Approx ₹56.02 Crores, 3,501,000 Equity Share |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹152 to ₹160 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
Saraswati Saree Depot IPO Market Lot:
The minimum market lot for the Saraswati Saree Depot IPO is 90 shares, requiring an application amount of ₹14,400. Retail investors can apply for up to 13 lots, which equals 1,170 shares, totaling ₹187,200.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 90 | ₹ 14,400 |
| Retail Maximum | 13 | 1170 | ₹ 1,87,200 |
| S-HNI Minimum | 14 | 1,260 | ₹ 2,01,600 |
| B-HNI Minimum | 70 | 6,300 | ₹ 10,08,000 |
Saraswati Saree Depot IPO Allotment & Listing Dates:
The Saraswati Saree Depot IPO will open on August 12 and close on August 14. The allotment of shares will be finalized on August 16, with the IPO expected to list on August 20.
| IPO Open Date: | August 12, 2024 |
| IPO Close Date: | August 14, 2024 |
| Basis of Allotment: | August 16, 2024 |
| Refunds: | August 19, 2024 |
| Credit to Demat Account: | August 19, 2024 |
| IPO Listing Date: | August 20, 2024 |
Saraswati Saree Depot Company Financial Report
| in crore | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹- | ₹- | ₹- |
| 2022 | ₹ 550.31 | ₹ 533.82 | ₹ 12.31 |
| 2023 | ₹ 603.52 | ₹ 572.65 | ₹ 22.97 |
Saraswati Saree Depot IPO Valuation – FY2023
For details on the Saraswati Saree Depot IPO valuations, including Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV), please refer to the valuation section.
| Earning Per Share (EPS): | ₹6.94 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 64.93% |
| Net Asset Value (NAV): | ₹10.69 per Equity Share |
Peer Group:
Go Fashion (India) Ltd
Sai Silks (Kalamandir) Limited
Company Promoters:
Mr. Shankar Dulhani
Mr. Mahesh Dulhani
Mr. Rajesh Dulhani
Mr. Vinod Dulhani
Saraswati Saree Depot IPO Registrar:
Registrar: Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/
Check Saraswati Saree Depot IPO Allotment Status:
To check the allotment status, visit the Bigshare website here.
Saraswati Saree Depot IPO Lead Manager:
Lead Manager: Unistone Capital Pvt Ltd
Company Address:
Saraswati Saree Depot Limited
Sr No.144/1 Manademala,
Near Tawade Hotel, Gandhinagar Road,
Uchagaon, Kolhapur – 416005
Phone: +91-9271009858
Email: cs@saraswatisareedepotlimited.com
Website: https://www.saraswatisareedepot.com/home
Saraswati Saree Depot IPO FAQs:
What is the Saraswati Saree Depot IPO?
The Saraswati Saree Depot IPO is a main-board offering aiming to raise ₹160.01 crores. The price band is ₹152 to ₹160 per equity share, and the IPO will be listed on BSE and NSE.
When will the Saraswati Saree Depot IPO open?
The IPO will open on August 12, 2024, for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Investors.
What is the allocation for different types of investors?
The IPO allocation is 50% for QIBs, 15% for NIIs, and 35% for Retail Investors.
How can you apply for the Saraswati Saree Depot IPO?
Online ASBA: Apply through your bank account using ASBA.
UPI via Stock Brokers: Apply through UPI via stock brokers.
Offline Form: Fill out the offline application form through stock brokers.
How to apply through Zerodha?
Log in to Console on the Zerodha website or app. Go to Portfolio, click on IPO, select “Saraswati Saree Depot,” click on the Bid Button, enter your UPI ID, quantity, and price, and submit the application. Approve the mandate through your UPI app.
How to apply through Upstox?
Log in to the Upstox app, select the IPO, choose “Saraswati Saree Depot,” click on the Bid Button, confirm your application, and approve the mandate through your UPI app.
How to apply through Paytm Money?
Log in to the Paytm Money app, select the IPO, choose “Saraswati Saree Depot,” click on the Bid Button, confirm your application, and approve the mandate through your UPI app.
What is the size of the Saraswati Saree Depot IPO?
The IPO size is ₹160.01 crores.
What is the price band for the Saraswati Saree Depot IPO?
The price band is ₹152 to ₹160 per share.