Saraswati Saree Depot IPO booked 107.52 times on final day
The initial public offering (IPO) of Saraswati Saree Depot, a leading manufacturer and wholesaler of women’s apparel, has concluded on a resounding note, garnering a massive subscription of 107.52 times on the final day. The enthusiastic response from investors is a testament to the company’s strong brand reputation, robust business model, and growth prospects
The IPO, which opened on August 12, witnessed a steady surge in demand throughout the three-day bidding period. Non-institutional investors exhibited the highest interest, with their portion being subscribed a whopping 358.65 times. Qualified Institutional Buyers (QIBs) also displayed strong confidence, subscribing to their quota 64.12 times. Retail investors contributed significantly to the overall success, with their portion subscribed 61.88 times.
The overwhelming response to the IPO reflects the investor confidence in the saree market and Saraswati Saree Depot’s dominant position within the segment. The company’s extensive distribution network, strong brand recognition, and consistent financial performance have been key factors driving the investor enthusiasm.
With the IPO oversubscribed by a wide margin, the allotment process is now underway.
Saraswati Saree Depot IPO Allotment Status
The allotment is expected to be finalized on Friday, August 16, and investors can check their allotment status on the registrar’s website, Bigshare Services Pvt Ltd.
The successful IPO is expected to provide Saraswati Saree Depot with a significant boost to its growth plans. The company intends to utilize the proceeds from the IPO to expand its manufacturing capacity, strengthen its distribution network, and invest in technology and research and development.
The listing of Saraswati Saree Depot on the stock exchanges is scheduled for Tuesday, August 20. Investors eagerly await the listing, anticipating a strong market debut given the overwhelming response to the IPO.
About Saraswati Saree Depot:
Saraswati Saree Depot is a leading player in the women’s apparel market, specializing in the manufacturing and wholesale of sarees. With a strong foothold in the industry, the company has built a reputation for high-quality products and exceptional customer service.