Saree The manufacturing company Saraswati Saree Depot got listed in the stock market today. The shares of Saraswati Saree Depot got listed at a 25% premium to its issue price of Rs 160. The company’s shares got listed at a price of Rs 200 with a 25% premium on the BSE and as soon as the trading started, it closed at Rs 209.95, jumping a total of 31.21% with an upper circuit of 5%.
The market cap of the company is Rs 831.40 crore
Apart from BSE, the company’s stock opened at a premium of 21.25 percent at Rs 194 on NSE. The market cap of Saraswati Saree Depot on the opening day of trading was Rs 831.40 crore.
The company had fixed the price band between Rs 152 and Rs 160
Let us tell you that the IPO of Saraswati Saree Depot opened on August 12 and closed on the third day, August 14. The company had fixed a price range of Rs 152 to Rs 160 for each share with a face value of Rs 10 under its IPO. Retail investors were given 90 shares in one lot.
1,00,00,800 fresh shares were issued for Rs 160.01 crore
Saraswati Saree Depot has raised Rs 160.01 crore through this IPO by issuing 1,00,00,800 fresh shares. In this, the company has issued 64,99,800 new shares worth Rs 104 crore while 35,01,000 shares worth Rs 56.02 crore have been issued through OFS. Saraswati Saree Depot has two stores in Maharashtra, Kolhapur and Ulhasnagar.
Saraswati Saree Depot’s IPO got 107 times subscription
Saraswati Saree Depot’s IPO received tremendous support from investors. On the last day of the IPO on Wednesday, August 14, it received a total subscription of 107.39 times. The company allotted shares to its investors on Friday, August 16. After which the shares were credited to the demat accounts of the investors on Monday, August 19.
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