Saraswati Saree Depot IPO Expects To Lauch On August 12: Dates, Lot Size, GMP, Share Price, Company’s Insights

Saraswati Saree Depot IPO: Saraswati Saree Depot Ltd. has announced that it will release its IPO on August 12 and is expected to raise Rs 160 crore from an initial public offering (IPO).

The Maharashtra-based saree company plans to expand its business by selling men’s ethnic wear and setting up an e-commerce store.

The company wants to do all these things with the money raised from the IPO.

However, Saraswati Saree Depot IPO will be open on August 12 for a set price range of Rs 152–160 per share and will close on August 14.

Bidding for Anchor buyers will be held for one day on August 9. The Saraswati Saree Depot IPO Lot size is 90 shares, and the GMP has not been announced yet.

Saraswati Saree Depot Ltd will issue new shares up to 65 lakh as part of the IPO and the investors will also offer 35 lakh shares for sale.

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In a statement, Nikhil Dulhani, head of investor relations for Saraswati Saree Depot Ltd, said, “We intend to enter the men’s ethnic wear space due to the rising trend of multi-day weddings, wider acceptance of traditional outfits during festival celebrations and the emergence of brands in the Indian wedding and celebration wear market. This segment is highly unorganised at the moment.”

The company wants to use the Rs 81 crore funds it raised from the IPO to pay for its operating capital needs and wishes to use the funds raised from the IPO to focus on selling online.

Businessline reported that Nikhil Dulhani said, “We intend to make investments in digital channels to build an omni-channel engagement experience for our customers, B2B and B2C, and have a dedicated team for our e-commerce operations. We anticipate that such investments will increase our profitability and revenue from operations and diversify our revenue-generating channels.”

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About Saraswati Saree Depot Ltd

The company has been in this business since 1966 and is selling a variety of women’s wear collections in Kolhapur, Maharashtra.

Furthermore, the company gets 90% of its income from selling sarees, kurtis, dress materials, lehengas, blouse pieces, and bottoms across Western and Southern India.

The company regulates sarees from several manufacturers all over India; they have built links with manufacturers in cities like Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru.

In FY24, Saraswati Saree Depot Ltd made a net profit of Rs 29.5 crore and earned a revenue of Rs 610 crore.

The company made Rs 601 crore in revenue and Rs 22.9 crore in profit after taxes in a year-ago period.

The company’s net profit in FY24 rose by Rs 6.6 crore against the net profit in FY23 and its revenue increased by Rs 9 crore in the fiscal year 2024.

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