Saraswati Saree Depot IPO allotment: See status, GMP, likely listing price

Saraswati Saree Depot IPO allotment status: The allotment for Saraswati Saree Depot's Initial Public Offering (IPO) is scheduled to be finalised today, August 16, 2024. The public issue, which closed for subscription on Wednesday, August 14, 2024, witnessed overwhelming demand, with the IPO being subscribed 107.39 times by the final day.

The highest interest came from Non-Institutional Investors (NIIs), who subscribed 358.47 times, followed by Qualified Institutional Buyers (QIBs) at 64.12 times, and retail investors at 61.9 times.

Investors who participated in the IPO can check the allotment status online once it is finalised. Bigshare Services Pvt Ltd, the registrar for this issue, will provide allotment details on its official website. Alternatively, investors can also check the allotment status on the BSE website. Below are the direct links to access the allotment status:

-Check Saraswati Saree Depot IPO Allotment Status on Bigshare Services: https://ipo.bigshareonline.com/IPO_Status.html
 

-Check Saraswati Saree Depot IPO Allotment Status on BSE: https://www.bseindia.com/investors/appli_check.aspx

Saraswati Saree Depot IPO grey market premium (GMP)

The grey market continues to show a positive sentiment for Saraswati Saree Depot’s unlisted shares. On Friday, August 16, 2024, the shares of Saraswati Saree Depot were commanding a grey market premium (GMP) of around Rs 48, which translates to approximately 30 per cent over the upper hand of IPO price. GMP often indicates investor interest and market sentiment ahead of the official listing.

Saraswati Saree Depot IPO listing price prediction

Given the current grey market premium, shares of Saraswati Saree Depot are expected to list at approximately Rs 208 (IPO GMP + Upper band of the issue price) on the exchanges. If the GMP trend holds, investors could see a potential profit of around Rs 48 or 30 per cent per share upon listing.

Saraswati Saree Depot IPO details

Saraswati Saree Depot, a manufacturer and wholesaler of women's apparel, launched its initial public offering (IPO) with a fresh issue of 6,499,800 shares worth approximately Rs 104 crore. Additionally, the company offered an offer for sale (OFS) of 3,501,000 shares with a face value of Rs 10 apiece, totaling around Rs 56.02 crore.

The IPO was available at a price band of Rs 152 - 160 per share, with a lot size of 90 shares. Retail investors could bid for a minimum of 90 shares, requiring an investment of Rs 14,400.

According to the Red Herring Prospectus (RHP), Saraswati Saree Depot intends to use the net proceeds from the IPO to fund its working capital requirements and for general corporate purposes.