The initial public offer of Saraswati Saree Depot, a key player in the sarees wholesale segment, was subscribed more than four times on the first day of subscription on Monday.
The Rs 160-crore initial share sale received bids for 4,37,44,950 shares against 1,00,00,800 shares on offer, translating into an oversubscription of 4.37 times, according to NSE data.
The quota for non-institutional investors fetched 12.62 times subscription, while the category for Retail Individual Investors (RIIs) got subscribed 5.39 times. The qualified Institutional Buyers (QIBs) portion received 1.19 times subscription.
The Initial Public Offer (IPO) has a fresh issue of up to 64,99,800 equity shares and an offer for sale of up to 35,01,000 equity shares.
The price range for the offer is Rs 152-160 per share.
The initial share sale will conclude on August 14.
The company proposes to utilise the net proceeds from the fresh issue towards funding working capital requirements and general corporate …
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Saraswati Saree Depot IPO gets fully subscribed on Day 1 of offer (12-08-2024)
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TVS Supply Chain Solutions allots 75,500 equity shares under ESOP (12-08-2024)
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Nifty, Sensex close unchanged amid Hindenburg drama, VIX at 15.87 (12-08-2024)
The domestic stocks ended flat today despite a volatile session triggered by fresh allegations against SEBI chief by Hindenburg. The market swung wildly, mirroring investor uncertainty over the credibility of the claims and counter-claims. While the Nifty managed to recoup early losses, a late sell-off erased gains. PSU banks and FMCG shares declined. On the other hand, realty and consumer durables shares bucked the trend.
Index of industrial production expands at 4.2% on year in June (12-08-2024)
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Jhaveri Credits & Capital standalone net profit rises 4550.00% in the June 2024 quarter (12-08-2024)
Sales rise 12150.00% to Rs 12.25 crore
KBS India reports standalone net profit of Rs 0.06 crore in the June 2024 quarter (12-08-2024)
Sales rise 64.71% to Rs 0.56 crore
52 Weeks Entertainment reports standalone net loss of Rs 0.06 crore in the June 2024 quarter (12-08-2024)
Reported sales nil
Naturite Agro Products reports standalone net profit of Rs 0.09 crore in the June 2024 quarter (12-08-2024)
Sales rise 15.23% to Rs 2.27 crore