Saraswati Saree Depot IPO Receives 16.48x Subscription on Day 2

Saraswati Saree Depot IPO Receives 16.48x Subscription on Day 2

The initial public offering (IPO) of Saraswati Saree Depot was opened for public subscription on Monday. The price band of the IPO has been fixed at Rs 152-160 per share. On the first day of bidding on Monday, the 160.01-crore IPO received a 16.48 times subscription on day 2.

The retail quota received a 20.62 times subscription, while the non-institutional investors category also got a 57.34 times subscription. The QIB (qualified institutional buyers) category has been subscribed 1.32 times on day 2

Saraswati Saree Depot IPO GMP

The Grey Market Premium (GMP) for the Saraswati Saree Depot IPO is currently around ₹ 75.

This means that shares are being traded in the grey market at a premium of ₹ 75 over the upper price band of ₹160.