Saraswati Saree Depot Ltd IPO
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Saraswati Saree Depot Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 100.01 L | ₹ 35.01 L | ₹ 35 L | ₹ 331 L | BSE | ₹ 160.01 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 12 Aug, 24 | 14 Aug, 24 | 90 | ₹ 13,680 | Book Building | 20 Aug, 24 |
Saraswati Saree Depot Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Trading |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 64.12x | 5000400 | 320647500 |
| NII | 358.65x | 1500120 | 538014690 |
| Retail | 61.88x | 3500280 | 216580860 |
| Employee | 0x | 0 | 0 |
| Total | 107.52x | 10000800 | 1075243050 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Saraswati Saree Depot Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 31.87 | 17.09 | 0.00 |
| EBITDA | 32.86 | 17.69 | 0.00 |
| PAT | 22.97 | 12.31 | 0.00 |
| Total Assets | 182.05 | 166.73 | 0.10 |
| Share Capital | 0.10 | 0.10 | 0.10 |
| Total Borrowings | 4.55 | 4.93 | 0.00 |
| Operating Activities (Net Cash) | 23.96 | 12.91 | 0.00 |
| Investing Activities (Net Cash) | 3.50 | 0.00 | 0.00 |
| Financing Activities (Net Cash) | 4.55 | 4.93 | 0.00 |
| Net Cashflow | 19.05 | 17.23 | 0.10 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Saraswati Saree Depot Ltd
Saraswati Saree Depot Limited was incorporated under the provisions of the Companies Act, 2013 as Saraswati Saree Depot Private Limited pursuant to certificate of incorporation dated March 18, 2021 issued by Central Registration Centre, Registrar of Companies. Subsequently, the Company has been converted into a public limited company and the name of the Company has changed to Saraswati Saree Depot Limited pursuant to a special resolution passed at the Extra-Ordinary General Meeting of the Company held on March 08, 2023 and a fresh Certificate of Incorporation dated March 31, 2023 consequent upon change of name and upon conversion to public limited company has been issued by the RoC.
The apparel industry comprises companies that design and sell clothes. Within this, the readymade garments or apparel segment includes shirts, trousers, T-shirts and jeans. It also comprises ethnic wear, such as kurtas, salwar kameez, lehengas and sarees. Indian apparels players employ various business models. The two key differentiating factors in these models are the strategy used to manufacture or procure (purchase or outsource) apparel, and the strategy used to distribute it. The business models can be analysed by dividing into three stages: manufacturing, branding and distribution. Companies often operate across segments, depending on their strategy and business model.
Saraswati Saree Depot Limited is a key player in sarees wholesale (B2B) segment and its origin into the sarees business dates back to the year 1966. The Company is engaged in the trading of women's apparel including sarees, kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. on a B2B basis. The Company is also engaged in the wholesale business of other women's apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. On an average of more than 90% of its total revenues are generated from sale of sarees. In Fiscal 2024, the company has served over 13,000 unique customers and its product catalogue consists of more than 3,00,000 different SKUs.
Peer Comparison:
- Go Fashion (India) Ltd
- Sai Silks (Kalamandir) Ltd
Saraswati Saree Depot Ltd IPO Key Points
Strengths
- Diversified supplier and customer base.
- Diverse product portfolio.
- Bulk buying capabilities.
- Experienced Promoters and strong management team.
- Existing client and supplier relationships.
Risk
- The company's business is highly concentrated on the sale of women's sarees and is vulnerable to variations in demand. Any changes in consumer preference could have an adverse effect on its business, results of operations and financial condition.
- The company operates out of two stores in Maharashtra which are located at Kolhapur and Ulhasnagar. Any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Maharashtra or any disruption in production at, or shutdown of, its stores could have material adverse effect on the company's business and financial condition.
- The Company is operating in wholesale segment due to which its lack visibility and direct connection with the end consumers of the company's products which may adversely affect its ability to build brand loyalty and awareness with the end consumers.
Strategy
- Strengthening Inventory Management Practices.
- Entering into men's ethnic wear segment.
- Leverage technology to bring cost efficiency and enhance customer experience.
- Capitalize on the increasing e-commerce for penetration in retail and wholesale category.
- Diversified supplier and customer base.
- Diverse product portfolio.
- Bulk buying capabilities.
- Experienced Promoters and strong management team.
- Existing client and supplier relationships.
How To Apply for Saraswati Saree Depot Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.