Saraswati Saree Depot IPO share allotment today, here is how to check status online

Saraswati Saree Depot IPO

Kolhapur-based Saraswati Saree Depot will finalise the basis of the allotment of IPO shares on August 16. Investors who participated in the IPO are keenly awaiting the allotment, considering the robust subscription numbers.

The Rs 160-crore initial public offering saw a massive 107.52 times subscription during August 12-14, with investors buying 107.52 crore equity shares against the offer size of 1 crore equity shares. Non-institutional investors led the major support to the issue, picking 358.65 times the allotted quota, while the parts set aside for qualified institutional buyers and retail investors were booked 64.12 times and 61.88 times, respectively.

The IPO comprised a fresh issue of 64.99 lakh equity shares worth Rs 104 crore and an offer-for-sale (OFS) of 35.01 lakh shares worth Rs 56.02 crore by promoters. The price band for the issue was Rs 152-160 per share.

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Investors can check their share allotment status either on the BSE/NSE websites or the portal of IPO registrar by following a few easy steps.

On the BSE website,
1) Select issue type 'Equity' and issue name 'SARASWATI SAREE DEPOT LIMITED'
2) Enter 'Application number' or 'PAN number'
3) Check the box (I am not a robot) and click on 'Search' button

On the NSE website,
1) After login, the PAN number of the participant appears automatically
2) Enter symbol 'SSDL'
3) Enter the Application number and click on 'Get Data'

On the portal of IPO registrar,
1) Select the company in the dropdown - Saraswati Saree Depot Limited
2) Select and accordingly enter either 'Application No/CAF No', 'Beneficiary ID', or 'PAN number'
3) Enter the captcha and click on the Search button

The manufacturer and wholesaler of saree and women's apparel will allot equity shares to successful investors by August 19, while the trading in its equity shares will commence on the bourses effective August 20.

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Saraswati Saree Depot IPO shares were available at around 25-30 percent premium over the upper price band in the grey market, the market observers said. The grey market is an unofficial platform for trading in IPO shares till the listing.

Meanwhile, the company will utilise fresh issue proceeds for working capital requirements, and general corporate purposes.