1.Company Information
• Saraswati Saree Depot Limited are a key player in sarees wholesale (B2B) segment (Source: CRISIL Report) and their origin into the sarees business dates back to the year 1966. They are also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. On an average of more than 90% of their total revenues are generated from sale of sarees. In Fiscal 2024, they have served over 13,000 unique customers and their product catalogue consists of more than 3,00,000 different SKUs.
• Their sarees are sourced from different manufacturers across India. Over the years, they have developed relationships with these manufacturers in hubs like Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru. They regularly source sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India.
• The business expanded their product range to include ready-made garments in 2017 with the beginning of Kurti sales. Since then, the ready-mades portfolio has grown to include several other offerings such as bottoms, pyjamas, one-piece clothing and dresses. The Kurti business of the partnership firm has grown significantly and has been recognized with awards such as “Star of the Industry” and “Iconic Brand” at the annual Kurti Expo events. In Fiscal 2018, sales of M/s. Saraswati Sadi Depot crossed ₹ 4,000 million mark. For its contributions to the commerce in the state of Maharashtra, the partnership firm was awarded with the “Achievers of South Maharashtra” award by the Times of India.
2. Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
1. Funding working capital requirements of the company.
2. General corporate purposes.
3. Saraswati Saree Depot IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html