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Saraswati Saree Depot IPO

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IPO Details

Bidding Dates

12 Aug '24 - 14 Aug '24

Minimum Investment

₹14,400 / 1 Lot (90 Shares)

Price Range

₹152 - ₹160

Maximum Investment

₹187,200 / 1 Lot (1,170 Shares)

Retail Discount

To be announced

Issue Size

₹160.01 Cr

Investor category and sub category

Qualified Institutional Buyers  |  Retail Individual Investors  |  Non-institutional Investor

Saraswati Saree PO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Aug 12, 24

IPO Close Date

Aug 14, 24

Basis of Allotment

Aug 16, 24

Initiation of Refunds

Aug 19, 24

Listing Date

Aug 20, 24

Saraswati Saree PO Subscription Details

DateQIBNIIRetailTotal

Day 12024-08-12

1.19x12.67x5.57x4.45x

About Saraswati Saree Depot Ltd

Incorporated in 1996, Saraswati Saree Depot Limited specialises in manufacturing and wholesaling women's apparel, with a primary focus on sarees. The company's core business lies in the wholesale (B2B) segment, catering to the demand for sarees and other women's garments such as kurtis, dress materials, blouse pieces, lehengas, and bottoms.

Saraswati Saree Depot sources its extensive product range from over 900 weavers and suppliers across various Indian states. The company's catalogue boasts over 300,000 unique SKUs, reflecting its diverse and comprehensive selection. Predominantly serving the southern and western regions of India, including Maharashtra, Goa, Karnataka, and Tamil Nadu, the company has successfully catered to more than 13,000 unique customers in fiscal 2024.

The company's product offerings are meticulously categorised by occasion, fabric, weave, and ornamentation, ensuring a tailored shopping experience for its clients. Impressively, over 90% of Saraswati Saree Depot's revenue is generated from saree sales alone.

As of June 30, 2024, Saraswati Saree Depot Limited employed 314 individuals across various departments, underlining its commitment to growth and service excellence in the women's apparel wholesale market.

Industry Outlook:

  1. The Indian saree industry is projected to grow at a 5-6% CAGR from FY 2023 to FY 2028, reaching ₹625-650 billion by FY 2028.
  2. Sarees constitute approximately 40% of the women's ethnic wear market in India, driven by rising demand for premium and quality products.

Saraswati Saree IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding the working capital requirements of the company.
  2. General corporate purposes.

Peer Details

The companies considered by Saraswati Saree Depot as its peers include:

  1. Go Fashion (India) Ltd.
  2. Sai Silks (Kalamandir) Ltd.

How to Check the Allotment Status of the Saraswati Saree IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Saraswati Saree Depot Limited

Registered office: Sr No.144/1 Manademala, Near Tawade Hotel, Gandhinagar Road, Uchagaon, Kolhapur, Maharashtra – 416005, India

Phone: +919271009858

E-mail: cs@saraswatisareedepotlimited.com

IPO Financials

Particulars Year ending on March 31, 2024Year ending on March 31, 2023
Revenue From Operations (in ₹ million)6,109.04 6,018.91
Profit After Tax (PAT) (in ₹ million)295.28 229.74
Cash & Cash Equivalents (in ₹ million)98.68 190.49
Net Worth (in ₹ million)649.09 353.82
Debt to Equity Ratio(x)0.67 1.17
Return on Equity (%)58.88% 96.15%
Return on Capital Employed (RoCE) (%)64.46% 98.03%
Earning Per Share (EPS)-in absolute ₹8.92 6.94

Know before investing

Strengths

6
  1. Saraswati Saree Depot sources from 900+ weavers and suppliers.

  2. The company offers 300,000+ SKUs, including sarees, kurtis, and lehengas.

  3. Bulk buying capabilities optimise costs and reduce supply chain risks.

  4. Promoters have 27-38 years of industry experience.

  5. In fiscal 2024, the company served over 13,000 unique customers.

  6. The company has a collaborative workforce that enhances efficiency and output.

Risks

6
  1. Saraswati Saree Depot generates 90.85% of its revenue from sarees in fiscal 2024.

  2. The company derives 82.68% of its revenue from the western zone in fiscal 2024.

  3. Sales are highly seasonal, peaking during festivals and weddings.

  4. The company relies on 900+ weavers without long-term agreements.

  5. Operations are working capital intensive, requiring significant funds.

  6. The company experienced negative cash flows in the past three years.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
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Login to Angel One App / Website & click on IPO

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Select desired IPO & tap on "Apply"

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Enter UPI ID, set quantity/price & submit

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Accept mandate on the UPI app to complete the process

Saraswati Saree Depot IPO FAQs

Saraswati Saree Depot Limited IPO is a book built IPO. The IPO will be open from August 12, 2024, to August 14, 2024.
The Basis of Allotment will happen on Friday, August 16, 2024.
The IPO subscription window will open on August 12, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 90 shares.
The listing date for Saraswati Saree Depot is Tuesday, August 20, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
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