Another IPO is ready to be listed in the stock market with a great GMP. This IPO has also received a tremendous response from investors. This is Saraswati Saree Depot IPO, whose book built issue is Rs 160.01 crore. This issue is a combination of a new issue of 65 lakh shares, totaling Rs 104 crore and a sale offer of 35 lakh shares, totaling Rs 56.02 crore.
Kolhapur-based Saraswati Saree Depot will sell shares in the price band of Rs 152 to Rs 160. Retail investors can buy a minimum of 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.
Saraswati Saree Depot IPO was open for subscription on August 12, 2024 and closed on August 14, 2024. Allotment for Saraswati Saree Depot IPO will be 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.
Before being listed in the stock market, this IPO is showing a good response in the grey market. The company’s shares 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 it is listed, investors will get 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 we estimate this premium, then the person who gets 1 lot will get a profit of Rs 100 per share. Since there are 90 shares in one lot, the person who gets 1 lot will get 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. QIB has subscribed it 64.12 times and NII has subscribed it 358.47 times.
(Note- Before investing in any stock, please consult your market expert.)
Source (PTI) (NDTV) (HINDUSTANTIMES)