New Delhi: Saraswati Saree Depot's IPO opened for subscription from Monday (August 12). The IPO of Saraswati Saree, which sells sarees, kurtis, lehengas and other ethnic wear clothes in business-to-business (B2B) or wholesale, can be subscribed till August 14.

What is the price band of Saraswati Saree?

Saraswati Saree plans to raise Rs 160.02 crore from the IPO. It has fixed the price band at Rs 152-160. The minimum lot size is 90 shares. This means that you will have to invest at least Rs 14,400 as per the upper price band to buy the Saraswati Saree IPO. The company will issue new shares worth Rs 104 crore. At the same time, shares worth Rs 56.02 crore will be Offer-for-Sale (OFS).

What does saraswati saree do

Saraswati Saree was founded in 1966. It is a major player in the wholesale segment of women's clothing. Apart from sarees, the company also wholesales kurtis, dress material, blouse pieces, lehengas, bottoms etc. Saree sales account for 90 per cent of its total revenue. In FY 2023, the company fulfilled orders of more than 15,000 customers and its sales figure crossed Rs 600 crore.

What is going on in the grey market

The current GMP of Saraswati Saree is Rs 52. This means that with a price band of Rs 160, the estimated listing price of Saraswati Saree IPO is Rs 212. According to this, investors can get a return of 32.50 percent. Shares of Saraswati Saree will be allotted on Friday (August 16). Its listing can happen on August 20. This stock will be listed on both NSE and BSE. Experts believe that high risk and long term investors can bet on this IPO.