Kolhapur based Ethinic wear Company Saraswati Saree Depot files DRHP with SEBI for the proposed IPO; Key Details here

Saraswati Saree Depot is into Consumer Apparel - Ethinic Wear, Sarees and is looking raise funds through Fresh Issue and Offer For Sale

Saraswati Saree DepotIPO: Fresh Issue of 7,245,000 Equity Shares through public issue. Offer of Sale of 3,555,000 Equity Shares through public issue IPO

Saraswati Saree Depot IPO: Saraswati Saree Depot Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue of up to 7,245,000 Equity Shares and an Offer for Sale up to 3,555,000 Equity Shares.. Unistone Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed Bigshare Services Private Limited as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue of up to 7,245,000 Equity Shares offer-for-sale (OFS) of up to 3,555,000 equity shares by Tejas Dulhani, Amar Dulhani, Shevakram Dulhani, Sujandas Dulhani, Tushar Dulhani and Nikhil Dulhani who will offload Up to 711,000Equity Shares, Up to 711,000Equity Shares, Up to 711,000Equity Shares, Up to 711,000Equity Shares, Up to 355,500Equity Shares and Up to 355,500Equity Shares respectively. ..

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Objects of the issue:
1) Funding working capital requirements amounting to Rs. 81 Cr, and 2) General Corporate Purpose.

Promoters of Saraswati Saree Depot are Shankar Dulhani, Mahesh Dulhani, Rajesh Dulhani and Vinod Dulhani and holds 100% stake in the company.

About Company:
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.

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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.

Source: SEBI, BSE, NSE, DRHP, Saraswati Saree Depot, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.