Ahmedabad, August 08, Saraswati Saree Depot Limited (“the Company”), shall open its Bid/Offer in relation to its initial public offer of Equity Shares on August 12.
According to a statement issued by the company here, The total offer size of Equity Shares (face value ₹ 10 each) comprises of fresh issue of up to 6,499,800 Equity Share and Offer for Sale of up to 3,501,000 Equity Shares (“Total Offer Size”). Bid Offer will open on Monday, August 12 and close on Wednesday, August 14.
The Price band of the Offer is fixed at ₹ 152 to ₹ 160 per Equity Share (“Price Band”). The face value of each equity share is ₹ 10. Bids can be made for a minimum of 90 Equity Shares and in multiples of 90 Equity Shares thereafter.
The Company proposes to utilize the Net Proceeds from Fresh Issue towards funding Working capital requirements of the Company estimated ₹ 810 million [₹ 81 Crore] to be deployed in FY 2025; and balance amount towards General corporate purposes. (“Objects of the Offer”)
