The Saraswati IPO price band is ₹152-160 per share.The IPO will be open for bidding till August 14, 2024.Retail investors are investing heavily in this case.
New Delhi. Saraswati Sari Depot Limited’s initial public offering (Saraswati Sari Depot IPO), which opened yesterday i.e. Monday, is receiving strong support from investors and the gray market. The IPO will be open for subscription till August 14, 2024. This means you still have days to bid for shares of this IPO. By 1:40 PM on the second day of bidding, the Saraswati Sari Depot IPO was subscribed 10.44 times. The portion reserved for retail investors was subscribed 14.33 times and the NII (non-institutional investors) portion was subscribed 32.01 times. The portion reserved for qualified institutional buyers (QIB) received 1.24 times bids. Even in the gray market, the IPO shares were trading at a premium of 41 per cent (Saraswati Saree IPO GMP).
Saraswati Sari Depot’s IPO will be listed on BSE and NSE. The company intends to raise Rs 160.01 crore through the issue. The IPO comprises a fresh issue of 6.5 lakh equity shares and an offer for sale (OFS) of up to 3.5 lakh equity shares by the promoter group. The company has fixed a price band of Rs 152-160 per share for its Rs 160 crore IPO.
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35% share reserved for retail investors
Up to 50 per cent of Saraswati Sari Depot’s IPO is reserved for qualified institutional buyers (QIB), at least 15 per cent for non-institutional investors (NII) and 35 per cent for retail investors. The shares of the company will be listed on NSE and BSE. The net proceeds from the issue are proposed to be used for working capital requirements and general corporate purposes.
GMP increased.
Saraswati Sari Depot’s IPO is getting a lot of response from investors as well as the gray market. According to IPOwatch.in, a website that monitors gray market activity, the unlisted shares of the issue are trading at a premium of Rs 65 on the gray market today. If we look at the upper price band of Rs 160, investors expect a listing gain of 41%.
(Disclaimer: Investing in IPOs is subject to market risks. If you wish to invest in any of them, consult a certified investment advisor first. News18 shall not be liable for any profit or loss you may incur. shall not be liable for damages.)
Tags: business news, IPO, Money making tips, Stock market, Stock market
First Publication: August 13, 2024, 15:03 IST
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