Saraswati Saree Depot is set to finalize the basis of share allotment for its IPO on August 16. Investors can expect notifications about fund debits or IPO mandate revocations by the following Monday. The IPO, which received a strong response, aimed to raise Rs 160.01 crore. The issue was oversubscribed 107.52 times, with notable interest from non-institutional investors. Despite strong demand, the grey market premium has seen a correction due to market volatility. The shares are expected to be listed on August 20, 2024, on the BSE and NSE.
5 Major Key Points:
IPO Allotment Date: Saraswati Saree Depot will finalize share allotment on August 16, with investor notifications expected by Monday.
IPO Details: The IPO aimed to raise Rs 160.01 crore, including a fresh share sale and an offer-for-sale (OFS) of 35.01 lakh shares.
Strong Investor Response: The IPO was oversubscribed 107.52 times, with significant interest from non-institutional investors.
Grey Market Premium: The grey market premium has decreased due to market volatility, indicating a potential listing gain of 30-32%.
Listing Date: Shares are expected to list on BSE and NSE on August 20, 2024.
Disclaimer: This summary and headline are for informational purposes only and should not be considered investment advice. Investors are encouraged to consult with a qualified financial advisor before making any investment decisions.
