look news india
Saraswati Saree Depot Limited IPO: The initial public offering (IPO) of Saraswati Saree Depot Limited will open on August 12 and close on August 14. The price band has been fixed at Rs 152-160 for each equity share with face value of Rs 10.
Retail investors can apply for a minimum of 90 shares and in multiples of 90 shares thereafter. The company has a fresh issue of 64,99,800 equity shares and an offer for sale of 35,01,000 equity shares.
Out of the funds raised through the public offering process, the company will use Rs 81 crore to meet working capital requirements and the remaining funds to meet general corporate purposes.
The company plans to list its equity shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) under an initial public offering. Along with this, the company has appointed Unistone Capital Private Limited as the book running lead manager of the offer for this issue.
The offer for sale comprises of 7,00,200 equity shares by Tejas Dulhani, 7,00,200 equity shares by Amar Dulhani, 7,00,200 equity shares by Shevkram Dulhani, 7,00,200 equity shares by Sujandas Dulhani, 35,01,000 equity shares (7,00,200 equity shares of face value of Rs 10 each, including 3,50,100 equity shares by Tushar Dulhani and 3,50,100 equity shares by Nikhil Dulhani (jointly with the promoter group selling shareholder).
