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Saraswati Saree Depot IPO Oversubscribed by 107 Times

15 Aug, 2024

Saraswati Saree Depot, a Kolhapur-based saree manufacturer, saw a massive 107.52 times subscription on the final day of its IPO.

The company aims to raise ₹160.02 crore, with a mix of fresh shares and an offer-for-sale by promoters. High net-worth individuals led the charge, with their portion oversubscribed by 358.65 times. Retail investors and institutional buyers also showed strong interest. The shares, which are trading at a 50% premium in the grey market, will start trading on BSE and NSE on August 20.

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