The IPO includes a fresh issue of up to 6.50 million shares and an offer for sale of up to 3.51 million shares by existing shareholders and promoters.

At the upper price band, the fresh issue is valued at Rs 104 crore, and the offer for sale is valued at Rs 56 crore, bringing the total market capitalization to Rs 633 crore.

The net proceeds from the fresh issue amounting to Rs 81 crore, shall be utilized towards funding working capital requirements of the company and general corporate purposes. However, proceeds from the OFS shall go to the selling shareholders of the company. Anchor book for the issue opens on Friday, August 9.

The company, a leading wholesaler in the sarees B2B segment since 1966, also deals in kurtis, dress materials, blouse pieces, lehengas, and bottoms.

Over 90 percent of its revenue comes from sarees. In Fiscal 2024, it served over 13,000 unique customers and offered a catalog with more than 300,000 SKUs.

The firm in FY24 reported a revenue of Rs 610.90 crore against Rs 601.89 crore a year ago. Net profit for the fiscal stood at Rs 29.53 crore versus Rs 22.97 crore last year.

Saraswati Saree Depot is engaged in the wholesale trade of other women’s clothing as Kurtis, dress materials, blouses, Lehengas, bottoms, etc. On average, more than 90% of the total revenue comes from the sale of sarees. In FY 2023, the company served more than 15,000 private customers and its product catalog includes more than 3,00,000 different storage units.

The company’s turnover in Kolhapur, Maharashtra, crossed INR 200 crore. The newly constructed complex will have an area of ​​approximately 15,500 square meters for ease of shopping. The company regularly sources sarees and other women’s wear from over 900 weavers/suppliers across various states of India. Saraswati Saree Depot has only two stores in Kolhapur and Ulhasnagar.

The company primarily sells its products in the southern and western regions of Maharashtra, Goa, Karnataka, and Tamil Nadu.

Unistone Capital is the book running lead manager of the Saraswati Saree Depot IPO, while Bigshare Services is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE with Tuesday, August 20 as the tentative date of the listing at the bourses.

The RHP shall be available on the website of the SEBI at www.sebi.gov.in, the website of the BRLM to the Offer at www.unistonecapital.com, the website of the Company at www.saraswatisareedepot.com and websites of BSE and NSE i.e. www.bseindia.com and www.nseindia.com, respectively.