IPO Details
Bidding Dates
12 Aug 24 - 14 Aug 24
Price Range ₹
152 - 160
Total Equity
₹ 160.01Cr
Lot Size
90
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
61.88×
Qualified Institutional Buyers
64.12×
Employees
0.00×
Retail Investors
61.88×
Total subscription Rate
107.52×
IPO Timeline
Offer start
12 Aug 2024
Offer end
14 Aug 2024
Allotment
16 Aug 2024
Refund initiation
19 Aug 2024
Demat transfer
19 Aug 2024
Listing
20 Aug 2024
Offer start
12 Aug 2024
Offer end
14 Aug 2024
Allotment
16 Aug 2024
Refund initiation
19 Aug 2024
Demat transfer
19 Aug 2024
Listing
20 Aug 2024
About Company
Saraswati Saree Depot Limited,incorporated in 1996, specializes in manufacturing and wholesaling women's apparel, with a primary focus on the wholesale (B2B) segment of sarees. The company also engages in the wholesale trade of other women's apparel, including kurtis, dress materials, blouse pieces, lehengas, and bottoms. The company sources its sarees and other apparel from over 900 weavers and suppliers across various states in India. Its extensive product catalog includes more than 300,000 different SKUs. The company's main markets are in the southern and western regions, including Maharashtra, Goa, Karnataka, and Tamil Nadu. In fiscal 2024, Saraswati Saree Depot served over 13,000 unique customers. Saraswati Saree Depot categorizes its saree offerings based on occasion, fabric, weave, and ornamentation. Over 90% of the company's revenue is derived from saree sales. As of June 30, 2024, the company employed 314 people across various departments.
Year Founded
18-03-2021
Promotor Details
Shankar Dulhani
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 74.75 |
| Share Capital | 33100000 | 29599000 |
Offer to Public
1,00,00,800.00 Cr
Project Details
- Funding working capital requirements of our Company - 810cr
Objectives
- Funding working capital requirements of our Company.General corporate purposes.
Highlights
- The company has effectively served over 13,000 unique customers and achieved substantial sales exceeding Rs 600 crore since its inception, demonstrating a solid market presence and growth potential.
- Collaborating with over 900 weavers and suppliers nationwide, the company offers a diverse product range with more than 300,000 SKUs, ensuring a broad and flexible inventory to meet various market demands.
- Bulk purchasing from its supplier network helps the company optimize costs and mitigate supply chain vulnerabilities, enhancing operational efficiency and financial stability.
- The company has demonstrated a steady increase in revenue, with annual growth from Rs 549.58 crore in FY22 to Rs 610.90 crore in FY24, indicating strong financial performance and market expansion.
- Profit after tax (PAT) has shown significant growth, rising from Rs 12.31 crore in FY22 to Rs 29.53 crore in FY24, reflecting improved profitability and operational effectiveness.
Challenges
- The company’s focus on women’s sarees makes it vulnerable to fluctuations in market demand and shifts in consumer tastes, potentially impacting its financial stability.
- With stores located in Kolhapur and Ulhasnagar, local disturbances, natural calamities, or service disruptions could significantly affect the company’s operations and financial performance.
- Revenue is heavily influenced by seasonal trends, especially during festival seasons. A decline in sales during these key periods could negatively impact the company’s financial health and future outlook.
- The company relies significantly on the western region for sales, which represents a large portion of its revenue. Any negative developments in this region could adversely affect the company’s business performance.
- Ongoing legal and regulatory proceedings involving the company’s directors and promoters could result in negative judgments that impact business prospects. Additionally, the company’s total indebtedness of Rs 35.54 crore could strain its financial stability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 1,964.30 | 1.00 | 123.08 | 123.08 | 3.7184 |
| 2021 | 1.03 | 1.00 | 229.74 | 229.74 | 6.9408 |
| 2022 | 1,740.63 | 1.00 | NaN | 0.00 | None |
| 2024 | 2,147.99 | 331.00 | 229.74 | 229.74 | 6.9408 |
