Saraswati Saree Depot GMP: Will there be a listing pop at the bourses on Tuesday?
Saraswati Saree Depot are set to debut on the exchanges on Tuesday. Ahead of the listing, the company’s shares are trading with a gray market premium (GMP) of Rs 46.
With the upper price band set at Rs 160, the stock is expected to list at a premium of 29% over the issue price.
However, it is important to note that gray market premiums are merely an indicator of how the company’s shares are valued in the unlisted market and can change rapidly.
The IPO of Saraswati Saree Depot received an overwhelming response from investors, with overall subscription exceeding 107 times at close, driven by strong interest from both non-institutional and institutional investors.
The IPO comprised a fresh issue of up to 65 lakh equity shares and an offer for sale (OFS) of up to 35 lakh equity shares by the promoter group. Under the OFS, Tejas Dulhani, Amar Dulhani, Shevakram Dulhani, Sujandas Dulhani, Tushar Dulhani, and Nikhil Dulhani offloaded their part stakes.
Saraswati Saree Depot is a prominent player in the wholesale saree (B2B) segment, with its origins in the saree business dating back to 1966. The company is also involved in the wholesale of other women’s apparel, including kurtis, dress materials, blouse pieces, lehengas, and bottoms.
On average, more than 90% of its total revenue is generated from the sale of sarees.
The company sources sarees from various manufacturers across India and has established relationships in key hubs such as Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru. Saraswati
