Kolhapur-based Saraswati Saree Depot will complete its structure for providing IPO shares on August 16. Investors who took part in the IPO are eagerly expecting the allotment, given the high subscription numbers.
During August 12-14, the Rs 160-crore initial public offering received a remarkable 107.52 times subscription, with investors purchasing 107.52 crore equity shares compared to the offer size of 1 crore equity shares. Non-institutional investors provided the most significant support for the offer, buying 358.65 times the authorized quota, while qualified institutional buyers and retail investors purchased 64.12 times and 61.88 times, respectively.
The IPO consisted of a fresh issue of 64.99 lakh equity shares worth Rs 104 crore and an offer-for-sale (OFS) of 35.01 lakh shares for Rs 56.02.
By following a few simple procedures, investors can check the status of their share allotment on the websites of the BSE and NSE or the IPO registrar.
- Choose the issue name “SARASWATI SAREE DEPOT LIMITED” and issue type “Equity” on the BSE website.
- Type in the “PAN number” or “application number.”
- Click “Search” after checking the “I am not a robot” box.
- Once signed in, the participant’s PAN number appears automatically on the NSE website.
- Type the ‘SSDL‘ symbol.
- Enter the Application number and click on ‘Get Data’
On the portal of IPO registrar
- Select the company in the dropdown – Saraswati Saree Depot Limited
- Select and accordingly enter either ‘Application No/CAF No‘, ‘Beneficiary ID‘, or ‘PAN number’
- Enter the captcha and click on the Search button
Investors will get equity shares from the maker and wholesaler of women’s clothes and sarees by August 19. Trading in these equity shares will start on the stock markets on August 20.
According to market experts, Saraswati Saree Depot IPO shares were selling for a premium of about 25–30 percent over the grey market’s upper price range. An unofficial marketplace for trading IPO shares before the listing is the grey market.
The company will use the proceeds from the new issue in the short term for general company goals and working capital requirements.
