Another IPO is ready to be listed in the stock market with excellent GMP. This IPO has also received tremendous response from investors. This is Saraswati Saree Depot IPO, whose book built issue is Rs 160.01 crore. The issue is a combination of fresh issue of 65 lakh shares, aggregating to Rs 104 crore and offer for sale of 35 lakh shares, aggregating to Rs 56.02 crore.
Kolhapur based Saraswati Saree Depot will sell shares at a price band of Rs 152 to Rs 160. Retail investors can buy at least 90 shares through this IPO, which will require ₹ 14,400. The minimum lot size investment for SNII is 14 lots (1,260 shares), amounting to ₹201,600 and for BNII it is 70 lots (6,300 shares), amounting to ₹1,008,000.
When was this IPO opened?
Saraswati Saree Depot IPO was opened for subscription on August 12, 2024 and closed on August 14, 2024. The allotment for Saraswati Saree Depot IPO will take place on Friday, August 16, 2024. Shares of Saraswati Saree Depot will be on BSE, NSE. It may be listed on Tuesday, August 20, 2024. This is a mainboard IPO.
There can be bumper earnings on listing
Before being listed in the stock market, this IPO is showing good response in the gray market. The shares of the company are indicating a premium of Rs 100. That is, if the shares of Saraswati Saree Depot are listed on this basis, then as soon as the shares are listed, investors will make a profit of Rs 100 on each share, which is a jump of 62.50% from the price band. If we look at this premium, its shares can be listed at Rs 260.
How much will investors earn on 1 lot?
If the estimate is based on this premium, then those buying 1 lot will make a profit of Rs 100 on each share. Since there are 90 shares in one lot, the person buying one lot will make a profit of Rs 9000. The total amount invested will be Rs 23,400.
Tremendous response from investors
Saraswati Saree Depot IPO has been subscribed a total of 107.39 times. Retail investors have subscribed it 61.59 times. Whereas QIB has subscribed 64.12 times and NII has subscribed 358.47 times.
(Note- Before investing in any share, please consult your market expert.)