Saraswati Saree Depot IPO booked 4.37 times: GMP Today, Price Band and other details

Saraswati Saree Depot IPO: Saraswati Saree Depot IPO which was opened on August 12 for subscription and closed on August 14 has been subscribed 4.37 times more than it issued.

The Saraswati Saree Depot IPO received a positive response from the investors. The shares issued for retail and non-institutional investors were fully subscribed after depressed market conditions.

Saraswati Saree Depot IPO received bids for 4,37,44,950 shares against 1,00,00,800 shares.

The retail investors issued shares were subscribed 5.39 times while the portion for non-institutional investors (NII) was subscribed to 12.62 times and the quota for qualified institutional buyers (QIB) was booked 1.19 times.

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Saraswati Saree Depot IPO has set aside 50% of the public issue for QIB, while 15% for NII, and 35% of the shares have been set aside for retail investors.

Saraswati Saree Depot Ltd opens public subscriptions for a set-price band of Rs 152 to Rs 160 per equity share and the minimum lot size that investors can bid for is 90 shares.

Saraswati Saree Depot Limited reported that its profit after tax (PAT) went up by 29% while the company’s revenue declined by 2%.

Saraswati Saree Depot Ltd was founded in 1966 and is situated in Kolhapur and Ulhasnagar, Maharashtra. The business focuses on selling various women’s attire such as kurtis, dress materials, blouse pieces, lehengas, and bottoms.

Saraswati Saree Depot IPO GMP or grey market premium stood at Rs 65.

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