Saraswati Saree Depot IPO subscribed 3.52 times so far

12 Aug 2024 , 03:52 PM

Saraswati Saree Depot Limited is a major player in India’s saree wholesale (B2B) market, having been established in 1966. The company sells wholesale sarees and other women’s apparel items such as kurtis, dress materials, shirt pieces, lehengas, and bottoms. On average, saree sales account for more than 90% of the company’s entire revenue.

Saraswati Saree Depot Limited was founded in 1966 as a partnership firm called “M/s. Saraswati Sadi Depot,” by Late Laxmandas Danomal Dulhani, his mother Late Dharmibai Danomal, and three others. The firm grew throughout time, and in 1993, the second generation of the Dulhani family took over, integrating and restructuring the family business. In 2002, the company held its inaugural “Utsav” event, which became a yearly tradition and contributed considerably to its revenue stream.

The company is based in Kolhapur, Maharashtra, and has a production facility of around 169,120 square feet. This facility has specific sections for several types of sarees and other women’s clothes, making shopping easier for customers. Saraswati Saree Depot Limited’s product assortment is extensive, with over 300,000 different SKUs catering to a wide range of consumer preferences and events.

Saraswati Saree Depot’s initial public offering (IPO) is expected to raise 160.01 crores. The offering includes a fresh issue of 0.65 crore shares totalling ₹104.00 crores and an offer-for-sale of 0.35 crore shares worth ₹56.02 crores.

The QIB portion was subscribed 1.18 times. NII portion was subscribed 8.75 times. Retail portion was subscribed 4.62 times as of 3:51 pm.

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