Saraswati Saree Depot Sets IPO Price Band at Rs 152-160 Per Share

Saraswati Saree Depot Ltd announced its IPO with a price band of Rs 152-160 per share, aiming to raise Rs 160 crore. The IPO opens on August 12 and closes on August 14. The funds will be used for working capital and corporate purposes. Shares will list on BSE and NSE.

Saraswati Saree Depot Ltd, a prominent player in the saree wholesale market, on Wednesday emerged with its IPO price band set between Rs 152 and Rs 160 per share for a Rs 160 crore fundraising drive.

The initial share sale is slated to start on August 12 and end on August 14, with bidding for anchor investors starting August 9, the company disclosed.

The IPO includes a fresh allotment of up to 65 lakh equity shares and an Offer for Sale (OFS) of 35 lakh equity shares by the promoter group. This move is part of a broader strategy to fund working capital and support general corporate purposes.

(With inputs from agencies.)