Last updated on August 14, 2024
Saraswati Saree IPO subscription started on 12 August 2024 and will close on 14 August 2024. Saraswati Saree Depot plans to raise around INR 152.01 – 160.01 crores via the IPO. The price band is fixed at INR 152 – 160 per share. Saraswati Saree IPO market lot has 90 shares and minimum application amount is INR 14,400. The retail quota is 35%, QIB is 50% and NII is 15%.
Check Saraswati Saree IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find Saraswati Saree IPO subscription status segregated by days and investor categories.
Saraswati Saree IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 50,00,400 | 15,00,120 | 35,00,280 | 1,00,00,800 |
| 14 Aug 2024 | 64.12 | 358.45 | 61.56 | 107.38 |
| 13 Aug 2024 | 1.32 | 57.18 | 20.30 | 16.34 |
| 12 Aug 2024 | 1.19 | 12.62 | 5.39 | 4.37 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Saraswati Saree – Business Background
Saraswati Saree Depot is a key player in the wholesale B2B saree segment, having been in the saree sales business since 1966. They also engage in the wholesale business of other women’s apparel, such as kurtis, dress materials, blouse pieces, lehengas, and bottoms. Overall, more than 90% of their total revenues come from saree sales. In FY 2024, the company served more than 13,000 private customers and its product catalog includes more than 3,00,000 different storage units.
Following the business growth, the company shifted operations to the newly-constructed Uchgaon premises in Kolhapur, Maharashtra in 2015, spanning over 169,120 sq ft. The company regularly sources sarees and other women’s wear from over 900 weavers/suppliers across various states of India.
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Investor Categories in Saraswati Saree IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of the Saraswati Saree IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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Saraswati Saree IPO Subscription Status FAQs
When will the subscription for Saraswati Saree IPO start?
Saraswati Saree IPO is open for subscription from 12 August to 14 August 2024.
How to subscribe to Saraswati Saree IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Saraswati Saree IPO be listed?
Saraswati Saree IPO will be listed on 20 August 2024, at the BSE and NSE stock exchanges.
