Mumbai10 minutes ago
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The share of Saraswati Saree Depot Limited was listed on the National Stock Exchange (NSE) at Rs 194, 21.25% above the issue price. At the same time, the share was listed on the Bombay Stock Exchange (BSE) at Rs 200, up 25%. The issue price of this IPO was Rs 160. Its IPO was open from 12 to 14 August.
This issue was of ₹ 160.01 crore
The total amount of this IPO was ₹160.01 crore. For this, the company had issued 6,499,800 fresh shares worth ₹104 crore. Whereas, the existing investors of the company sold 3,501,000 shares worth ₹56.02 crore through Offer for Sale i.e. OFS.
Minimum investment was to be ₹14,400
Saraswati Saree Depot Limited had fixed the price band of this issue at ₹152-₹160. Retail investors could bid for a minimum of one lot i.e. 90 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹160, then you would have to invest ₹14,400 for it.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 1170 shares. For this, investors had to invest ₹ 187,200 according to the upper price band.
Saraswati Saree Depot was established in 1996
Saraswati Saree Depot Limited was established in 1996 and is engaged in the manufacturing and wholesale of women’s apparel. The company’s primary business is in the wholesale segment of sarees.
Along with this, the company manufactures and sells kurtis, dress material, blouse pieces, lehengas and other apparel. The company mainly sells its products in the South and Western regions including Maharashtra, Goa, Karnataka and Tamil Nadu.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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