Saraswati Saree Depot is into Consumer Apparel - Ethinic Wear, Sarees sector and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
Saraswati Saree Depot IPO is a public offering of shares by Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani and Vinod Dulhani. The IPO will open on August 12 and will close on August 14. The price band is ₹152 to ₹160 per share and the lot size is 90 shares. The issue size is ₹160.01 crore. The shares are expected to be listed on NSE, BSE on August 20 (^). Some additional information that you may find useful are: History of Company: Established in 1966 as partnership firm by Late Laxmandas Danomal Dulhani (the father of our promoter, Shankar Dulhani) along with his mother Late Dharmibai Danomal and three others. Later re-organized the family business and Dulhani family took charge of the business. Further, third generation of the Dulhani family took charge and converted the business into a company in 2021. Currently sourcing sarees from over 900 weavers/suppliers from across India including Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru. Company currently operate out of two stores in Maharashtra which are located at Kolhapur and Ulhasnagar.-
Financial Snapshot
- Revenue (Rs Crores): Rs612.5 in FY24 (v/s Rs603.5 in FY23)
- EBITDA (Rs Crores): Rs41.1 in FY24 (v/s Rs34.0 in FY23)
- EBITDA Margins (%): 6.7 in FY24 (v/s 5.7 in FY23)
- PAT (Rs Crores): Rs29.5 in FY24 (v/s Rs23.0 in FY23)
- PAT Margin (%): 4.8 in FY24 (v/s 3.8 in FY23)
- Total Debt (Rs Crores):Rs43.5 in FY24 (v/s Rs41.4 in FY23)
: (**) - based on higher price band (^) indicative date
Promoters of the company are Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani and Vinod Dulhani Currently promoters hold 100% stake in the company. While post-equity promoters stake will be 74.75%
- Company aims to raise between Rs 152 to 160 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Funding working capital requirements amounting to Rs. 81 Cr and 2) General Corporate Purpose
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be N/A.
- Price band for the IPO has been fixed at Rs 152 to 160 per share and bid lot are in multiple of 90 shares. The implied market cap post-issue at Rs 602 to 634 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on August 16 and share are expected to be listed on NSE, BSE on August 20.
- Company has direct peer competition in India'a Apparel sector. In Listed space peers include Go Fashion (India) and Sai Silk (Kalamandir) among others.
- Unistone Capital has been appointed as Merchant Banker to the issue. Bigshare Services Pvt. Ltd. has been appointed as official registrar of the issue.
- Company has not undertaken Pre-IPO placement.
Key Pointers of Saraswati Saree Depot IPO:
| Saraswati Saree Depot Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 2021 | Kolhapur | Consumer | Apparel - Ethinic Wear, Sarees |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 20-Aug-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 12-Aug-24 to 14-Aug-24 | ₹ 152 to 160 per sh | ₹ 10 per sh | 90 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
|
90 shares ₹ 14,400 |
1,170 shares up to ₹ 187,200 |
1,260 to 6,210 shares ₹ 201,600 to 993,600 |
6,300 shares and above ₹ 1,008,000 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Saraswati Saree Depot Limited
Kolhapur based, Saraswati Sarees Depot is into Ethinic wear segment. It is primarily into sarees wholesale (B2B) segment and company's origin was into the sarees business dates back to the year 1966. 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 total revenues are generated from sale of sarees. In FY23, served over 15,000 unique customers and product catalogue consists of more than 3,00,000 SKUs.
History of Company: Established in 1966 as partnership firm by Late
Laxmandas Danomal Dulhani (the father of our promoter, Shankar Dulhani)
along with his mother Late Dharmibai Danomal and three others. Later
re-organized the family business and Dulhani family took charge of the
business. Further, third generation of the Dulhani family took charge
and converted the business into a company in 2021. Currently sourcing
sarees from over 900 weavers/suppliers from across India including
Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru.
Company currently operate out of two stores in Maharashtra which are
located at Kolhapur and Ulhasnagar.
-
Financial Snapshot
- Revenue (Rs Crores): Rs612.5 in FY24 (v/s Rs603.5 in FY23)
- EBITDA (Rs Crores): Rs41.1 in FY24 (v/s Rs34.0 in FY23)
- EBITDA Margins (%): 6.7 in FY24 (v/s 5.7 in FY23)
- PAT (Rs Crores): Rs29.5 in FY24 (v/s Rs23.0 in FY23)
- PAT Margin (%): 4.8 in FY24 (v/s 3.8 in FY23)
- Total Debt (Rs Crores):Rs43.5 in FY24 (v/s Rs41.4 in FY23)
|
Also READ: |
|---|
About Industry
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 (purchaseor 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 IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | N/A |
| IPO Open | 12-Aug-24 |
| IPO Close | 14-Aug-24 |
| Allotment | 16-Aug-24 |
| Credit of Shares | 19-Aug-24 |
| Refund | 19-Aug-24 |
| Listing | 20-Aug-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Saraswati Saree Depot Limited IPO - Management Details: | |
|---|---|
|
Shankar Dulhani, Chairperson and Executive Director Completed high school from Maharashtra State Board of Secondary Education and having over 38 years of experience in the apparel industry. |
|
|
Vinod Dulhani, Managing Director Completed his higher secondary education from Maharashtra State Board. He has over 27 years of experience in the apparel industry and is also a second-generation member in the business of the Company. |
|
|
Mahesh Vyas, CFO He holds a Bachelors’ of Commerce from Shivaji University, Kolhapur. He has an experience of more than two decades working in the accounting and finance and has previously worked with Parashar Coop Powerloom Cloth Producers Society Limited, Yogesh Dyestuff Products Private Limited and Amit Spinning Industries Limited. |
|
|
Ruchika Gheeya, Company Secretary and Compliance Officer She holds a degree in Bachelors’ of Commerce from Shivaji University, Kolhapur. She is a qualified Company Secretary and is an associate member of the Institute of Company Secretaries of India. She has over 6 years of experience of working as Company Secretary. |
|
Visit DRHP / RHP for more details on Board of Directors and
Management details.
| Saraswati Saree Depot Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 5,000,400 | NA | 80.01 |
| Non-Retail (NII) | 15 | NA | 1,500,120 | NA | 24. |
| Non-Retail (NII): >Rs10L | NA | 1,000,080 | NA | 16. | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 500,040 | NA | 8. | |
| Retail | 35 | NA | 3,500,280 | NA | 56. |
| Employee | NA | . | . | ||
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Saraswati Saree Depot Limited - IPO Merchant Bankers: |
|---|
| Unistone Capital |
| Saraswati Saree Depot Limited - IPO Registrar & Transfer Agent (RTA): |
|---|
|
Bigshare Services Pvt. Ltd. E/2, ANSA INDUSTRIAL ESTATE, SAKI-VIHAR ROAD, SAKINAKA, ANDHERI (E) MUMBAI MAHARASHTRA 400072 |
Check IPO Allotment status of Saraswati Saree DepotIPO:
| Saraswati Saree Depot Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Saraswati Saree Depot Limited - Documents | |
|---|---|
Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
|---|
FAQ
Posts
0 Comments