Saraswati Saree Depot Limited IPO And Its GMP IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 152 to ₹ 160 per share |
| Lot Size | 90 Shares |
| Total Issue Size | 1,00,00,800 shares (aggregating up to ₹ 160.01 Cr) |
| Fresh Issue | 64,99,800 shares (aggregating up to ₹ 104.00 Cr) |
| Offer for Sale | 35,01,000 shares of ₹10 (aggregating up to ₹ 56.02 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 3,31,00,000 |
| Shareholding post issue | 3,95,99,800 |
About Saraswati Saree Depot Limited IPO And Its GMP
Saraswati Saree Depot Limited is a key player in the sarees wholesale (B2B) segment (Source: CRISIL Report) and its origin in the sarees business dates back to the year 1966. They are also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. On average more than 90% of their total revenues are generated from the sale of sarees.
In Fiscal 2023, they have served over 15,000 unique customers and their product catalogue consists of more than 3,00,000 different SKUs. Saree is an ethnic wear garment which has its origin in India and is one of the most popular readymade garments in India which is worn on casual occasions as well as on festive occasions. A saree typically ranges from six to nine yards in length and can be worn in several ways.
- Issue Size: ₹160.01 crores
- Fresh Issue: 0.65 crore shares, aggregating to ₹104.00 crores
- Offer for Sale: 0.35 crore shares, aggregating to ₹56.02 crores
Price Band: ₹152 to ₹160 per share
Minimum Lot Size: 90 shares
IPO Open Date: August 12, 2024
IPO Close Date: August 14, 2024
Book Running Lead Manager: Unistone Capital Pvt Ltd
Registrar: Bigshare Services Pvt Ltd
Saraswati Saree Depot IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Company & Financials
Incorporated in 1996, Saraswati Saree Depot Limited is engaged in manufacturing and wholesale women's apparel. The company's primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women's apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. The company regularly sources sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India. Currently, our product catalogue lists more than 300,000 different SKUs. The company majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka and Tamil Nadu and the company has served more than 15,000 unique customers in fiscal 2023. The company stores offer saree products categorized by occasion, fabric, weave, and ornamentation. Over 90 per cent of the company's revenue comes from saree sales.
Objectives of Saraswati Saree Depot IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objectives:
- 1. Funding the working capital requirements of the company.
- 2. General corporate purposes.
Saraswati Saree Depot IPO Review
The company has a unique model of saree wholesale selling and has over 300000 SKUs procured from 900+ weavers and marketed to 13000+ customers, who are largely semi-wholesalers/retailers. Thus it operates on a B2B model with 90+% revenue from the sale of Sarees. Recently, it diversified into kurti and dress materials along with branded suiting/shirting for men which is contributing to the rest. Considering the trends set by its unique business model, investors may park funds for the medium to long term.
Saraswati Saree Depot Limited IPO And Its GMP Financial Information
Latest Revenue
₹ 612.58 Cr
Profit After Tax
₹ 29.53 Cr
Net Worth
₹ 64.91 Cr
Total Borrowing
₹ 43.49 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31 Mar 2024 | 205.94 | 612.58 | 29.53 | 64.91 | 43.49 |
| 31 Mar 2023 | 188.85 | 603.52 | 22.97 | 35.38 | 41.43 |
| 31 Mar 2022 | 169.93 | 550.31 | 12.31 | 12.41 | 66.62 |
| Amount in ₹ Crore | |||||
IPO Estimated Listing Return
Based on the IPO Price of ₹160 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹42 and a lot size of 90 shares.
Saraswati Saree Depot Limited IPO And Its GMP IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-08-17 | ₹160 | ₹42.0 (26%) | 2024-08-17 |
Saraswati Saree Depot Limited IPO And Its GMP Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 96.15% |
| ROCE | 98.03% |
| Debt/Equity | 1.17 |
| RoNW | 64.93% |
| P/BV | 14.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.94 | 5.8 |
| P/E (x) | 23.05 | 27.58 |
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Competitive Strengths
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Saraswati Saree Depot Limited IPO And Its GMP IPO Timeline
| IPO Open Date | Monday, August 12, 2024 |
| IPO Close Date | Wednesday, August 14, 2024 |
| Basis of Allotment | Friday, August 16, 2024 |
| Initiation of Refunds | Monday, August 19, 2024 |
| Credit of Shares to Demat | Monday, August 19, 2024 |
| Listing Date | Tuesday, August 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹ 14,400 |
| Retail (Max) | 13 | 1,170 | ₹ 1,87,200 |
| S-HNI (Min) | 14 | 1,260 | ₹ 2,01,600 |
| S-HNI (Max) | 69 | 6,210 | ₹ 9,93,600 |
| B-HNI (Min) | 70 | 6,300 | ₹ 10,08,000 |