Saraswati Saree Depot Sets IPO Price Band At 152–162 Per Share
The issue will open for subscription on Aug. 12 and close on Aug. 14.
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The initial public offering of Saraswati Saree Depot Ltd. will open for subscription next week with a price band of Rs 152 to 160 per share.
The public issue consists of a fresh issue of 64.9 lakh shares and an offer-for-sale component consisting of 35.01 lakh shares, according to the price band advertisement by the company on Wednesday.
The minimum lot size for bidding will be 90 shares, with further bids to be made in multiples. The issue will open for subscription on Aug. 12 and close on Aug. 14. The bidding for the anchor portion will open for a day on Aug. 11, according to the advertisement.
Tejas Dulhani, Amar Dulhani, and Shevakram Dulhani will be the promoter group selling shareholders.
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Unistone Capital Pvt. will be the sole book-running lead managers for the IPO. The equity shares are proposed to be listed on the BSE and the National Stock Exchange.
Saraswati Saree Depot is a key player in the saree wholesale segment. The company is also engaged in the wholesale business of other women's apparel such as kurtis, dress materials, lehengas, and bottoms.
Funds collected through the fresh issue will be used to support working capital requirements and for general corporate purposes.
