![IPO Initial Public Saraswati Saree Depot IPO allotment](https://static.indiatvnews.com/ins-web/images/lazy-big.jpg)
Saraswati Saree Depot is set to finalise the allotment of its IPO shares on Friday, August 16. Investors who participated in the bidding process, which saw strong demand, can check their allotment status over the extended weekend or by Monday. The IPO was subscribed 107.52 times overall, with particularly high interest from non-institutional bidders.
IPO allotment and listing details
Saraswati Saree Depot, based in Kolhapur, will finalise its IPO share allotment on August 16. Bidders will receive updates on the status of their applications via messages, alerts, or emails by Monday. The company, engaged in the manufacturing and wholesale of women’s apparel, sold its IPO shares within a price band of Rs 152-160 per share, aiming to raise approximately Rs 160.01 crore. The IPO received a robust response, particularly from non-institutional bidders (NIIs), who oversubscribed their portion by 358.65 times. Qualified institutional buyers (QIBs) and retail investors also showed strong interest, with subscriptions of 64.12 times and 61.88 times, respectively.
Grey market premium and investor sentiment
Despite the strong bidding, the grey market premium (GMP) for Saraswati Saree Depot shares has seen a decline, reflecting market volatility. The GMP was last reported at Rs 48-50 per share, suggesting a potential listing gain of 30-32% for investors, down from Rs 80 per share when bidding closed.
Industry position and expert opinions
Saraswati Saree Depot, established in 1996, primarily operates in the B2B segment for sarees and other women’s apparel. Brokerages have mixed opinions on the IPO; some recommend it for its reasonable valuation and expansion plans, while others caution against it due to high capital needs and industry competition.
Checking allotment status
Investors can check their allotment status through the BSE website or the Bigshare Services portal. The shares are expected to list on both the BSE and NSE on Tuesday, August 20.
How to check allotment on BSE
- Visit [BSE IPO Allotment Status](https://www.bseindia.com/investors/appli_check.aspx)
- Select "Equity" under issue type.
- Choose "Saraswati Saree Depot Limited" under issue name.
- Enter your application number and PAN ID.
- Complete the captcha and submit.
How to check allotment on Bigshare Services
- Go to the [Bigshare Services IPO Status](https://ipo.bigshareonline.com/IPO_Status.html) portal.
- Select the IPO from the dropbox.
- Choose your preferred mode (Application number, Beneficiary ID, or PAN ID) and enter the details.
- Complete the captcha and hit search to view your status.
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