Shares of Saraswati Saree Depot, a leading Indian saree manufacturer and wholesaler, made a notable debut on the stock exchanges today. The company’s stock listed at a premium of 21% on the NSE and 25% on the BSE compared to its issue price.
Key Listing Details
- BSE Listing: Saraswati Saree Depot shares debuted at ₹200 per share, which is ₹40 or 25% higher than the IPO issue price of ₹160.
- NSE Listing: On the NSE, the shares opened at ₹194 per share, reflecting a premium of 21.25% over the issue price.
IPO Overview
- Issue Price: ₹152-160 per share
- Lot Size: 90 shares
- Allotment Finalized: August 16, 2024
- IPO Size:
- Fresh issue: 6,499,800 shares (approximately ₹104 crore)
- Offer for Sale (OFS): 3,501,000 shares (around ₹56.02 crore)
- Subscription Rate: The IPO was oversubscribed 107.39 times by the final day.
The funds raised through the IPO will be directed towards supporting working capital requirements. Additionally, a portion will be allocated for general corporate purposes.eds.
