Saraswati Saree, Exicom Tele and Vibhor Steel file draft papers with Sebi to launch IPOs
Saraswati Saree Depot, Exicom Tele Systems, and Vibhor Steel Tubes — have filed their draft prospectus papers with Sebi to launch their respective IPOs.
Saraswati Saree Depot
The IPO of Saraswati Saree Depot includes a fresh issue of 72.45 lakh shares and an offer for sale (OFS) of 35.5 lakh shares. Under the OFS, promoters Tejas Dulhani, Amar Dulhani, Shevakram Dulhani, Sujandas Dulhani, Tushar Dulhani, and Nikhil Dulhani will offload shares.
The offer is being made through the book-building process where 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.
Saraswati Saree Depot is a key player in the sarees wholesale (B2B) segment, and its origin in the sarees business dates back to 1966.
It is also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.
On average, more than 90% of the company's total revenues are generated from the sale of sarees.
In FY23, it had served over 15,000 unique customers, and the product catalog consists of more than 3,00,000 different SKUs.
Unistone Capital is the book running lead manager for the issue, while Bigshare Services is the registrar.
Exicom Tele Systems
The IPO of Exicom Tele Systems comprises a fresh issue of Rs 400 crore and an OFS of 74 lakh shares.
About 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.
The company is a power management solutions provider, operating under two business verticals. In the electric vehicle supply equipment solutions business, it provides smart charging systems with innovative technology for
