There is currently a huge surge in IPOs. The special thing is that companies that debut on the stock market not only get good listings but also offer good returns to investors. First Cry, which went public on Tuesday, is the latest example of this. Now investors are seeing more focus on another company. For which more than 16 subscriptions have been received in two days. The name of this company is Saraswati Saree Depot. Let us also tell you what kind of details have come out about this IPO.
subscription 16 times
There is a rush of investors for the shares of saree manufacturing company Saraswati Saree Depot. Investors are rushing to buy its IPO. What is special is that on the second day the IPO of this company has been subscribed more than 16 times. According to NSE data, the Rs 160 crore IPO received bids for 16,33,54,410 shares against the offer of 1,00,00,800 shares, which is 16.33 times. If experts are to be believed, a further surge may be seen in the last few days.
How much subscription did you get at retail?
Subscription has been received 57.16 times for the quota from non-institutional investors. On the other hand, 20.28 times subscriptions were received from retail investors. The share of eligible institutional buyers was subscribed 1.32 times. 64,99,800 new shares have been issued under the IPO and it also includes an offer for sale (OFS) of 35,01,000 equity shares. The price band of the IPO has been fixed at Rs 152-160 per share. The IPO of the company will close on August 14. The company will use the proceeds from the fresh issue for working capital requirements and general functioning of the company.
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The company will be listed on the stock exchange on August 20.
In the IPO of this women’s apparel manufacturing company, 6,499,800 new shares have been placed. On the other hand, 3,501,000 shares with a face value of Rs 10 are under OFS. The shares of the company are likely to be allotted on Friday, August 16, 2024, while they will be visible in the demat account on Monday, August 19, 2024. Shares of Saraswati Saree Depot will be listed on BSE and NSE on Tuesday, August 20, 2024.
