Saraswati Saree Depot IPO opens today: Should you subscribe to issue?
The Rs 160 crore IPO of Saraswati Saree includes a fresh shares sale of 104 crore, while its promoters are offloading 35,01,000 equity shares amounting to Rs 56.02 crore.
- Aug 12, 2024,
- Updated Aug 12, 2024 9:42 AM IST
The initial public offering (IPO) of Saraswati Saree Depot opens for bidding on Monday, Tuesday 12. The company is offering its shares in the range of Rs 152-160 apiece, for which the investors can apply for a minimum of 90 equity shares and its multiples thereafter. The three-day issue is open for bidding until Wednesday, August 14. Saraswati Saree's business model is underpinned by a diversified and well-established supply chain. The company sources its products from over 900 weavers and suppliers across key textile hubs in India, including Surat, Varanasi, Kolkata, Madurai, and Bengaluru. This extensive supplier network ensures a continuous and varied product flow, said Ventura Securities.
"The company's strong retail presence is complemented by its digital strategy; Saraswati Saree is investing in e-commerce to create an omni-channel experience, which is expected to drive growth as online sales in the saree industry are projected to increase to 9-11 per cent by FY29," it added with a 'subscribe' rating.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
The initial public offering (IPO) of Saraswati Saree Depot opens for bidding on Monday, Tuesday 12. The company is offering its shares in the range of Rs 152-160 apiece, for which the investors can apply for a minimum of 90 equity shares and its multiples thereafter. The three-day issue is open for bidding until Wednesday, August 14. Saraswati Saree's business model is underpinned by a diversified and well-established supply chain. The company sources its products from over 900 weavers and suppliers across key textile hubs in India, including Surat, Varanasi, Kolkata, Madurai, and Bengaluru. This extensive supplier network ensures a continuous and varied product flow, said Ventura Securities.
"The company's strong retail presence is complemented by its digital strategy; Saraswati Saree is investing in e-commerce to create an omni-channel experience, which is expected to drive growth as online sales in the saree industry are projected to increase to 9-11 per cent by FY29," it added with a 'subscribe' rating.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.