THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR SECURITIES. NOT FOR RELEASE. PUBUCATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY. OUTSIDE INDIA. INITIAL PUBLIC OFFER OF EQUITY SHARES ON THE MAIN BOARD OF BSE LIMITED (,BSE,) AND NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE. AND TOGETHER WITH BSE.THE ‘STOCK EXCHANGES' ) IN COMPLIANCE WITH CHAPTER II OF THE SECURTIES AND EXCHANGE BOARD OF INDIA(ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018, AS AMENDED ("SEBIICDR REGULATIONS')

Our Company was incorporated under the provisions of the Companies Act, 2013 as "Saraswati Saree Depot Private Limited' pursuant to certificate of incorporation dated March 18,2021 issued by Central Registration Centre. Registrar of Companies. Subsequently, our Company has been converted into a public limited company and the name of our Company has changed to "Saraswati Saree Depot Limited'' pursuant to a special resolution passed at the Extra-Ordinary General Meeting of our Company held on March 08,2023 and a fresh Certificate of Incorporation dated March 31,2023 consequent upon change of name and upon conversion to public limited company has been issued by the RoC. For details in relation to the changes, if any, in our Registered Office of our Company, see "History and Certain Corporate Matters ' beginning on page 199 of the Prospectus dated August 15r 2024 filed with RoC ("Prospectus").

Our Company has filed the Prospectus dated August 15,2024 with the RoC. and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and trading is expected to commence on August 20, 2024

INITIAL PUBLIC OFFER OF UP T010,000,800 EQUITY SHARES OF FACE VALUE OFRs. 10 EACH ("EQUITY SHARES") OF SARASWATISAREE DEPOT LIMITED ("COMPANY OR "ISSUER") FOR CASH AT A PRICE OF Rs. 160 PER EQUITY:SHARE (INCLUDING ASHARE PREMIUM OF Rs. 150 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING UP TO Rs. 1,600.13 MILLION COMPRISING A FRESH ISSUE OF UP TO 6,499,800 EQUITY SHARES AGGREGATING UP TO Rs. 1,039.97 MILLION BY OUR COMP/(NY ("FRESH ISSUE") AND AN OFFER FOR SALE OF UP TO 3,501,000 EQUITY SHARES AGGREGATING UP TO Rs. 560.16 MILLION ("OFFER FOR SALE"), COMPRISING OF UP TO 700,200 EQUITY SHARES AGGREGATING UP TO Rs. 112.03 MILLION BY TEJAS DUL.HANI, UP TO 700,200 EQUITY SHARES AGGREGATING UP TO Rs. 112.03 MILLION BY AMAR DULHANI, UP TO 700,200 EQUITY SHARES AGGREGATING UP TO Rs. 112.03 MILLION BY SHEVAKRAM DULHANI, UP TO 700,200 EQUITY SHARES AGGREGATING UP TORs. 112.03 MILLION BY SUJANDAS DULHANI, UP TO 350,100 EQUITY SHARES AGGREGATING UP TO Rs. 56.02 MILLION BY TUSHAR DULHANI, UP TO 350,100 EQUITY SHARES AGGREGATING UP TO Rs. 56.02 MILLION BY NIKHIL DULHANI, (COLLECTIVELY THE "PROMOTER GROUP SELLING SHAREHOLDERS") AND SUCH EQUITY SHARES OFFERED BY THE PROMOTER GROUP SELLING SHAREHOLDERS (THE "OFFERED SHARES"). (SUCH OFFER BY EACH OF THE PROMOTER GROUP SELLING SHAREHOLDERS, THE "OFFER FOR SALE" AND TOGETHER WITH THE FRESH ISSUE, THE "OFFER").

1. We are dependent on single product (i.e., women's sarees) for more than 90% of our sales : Our business is highly concentrated on the sale of women's sarees and is vulnerable to variations in demand. For the Fiscals 2024,2023 and 2022, our revenue from sale of women's sarees was Rs. 5,550.05 million, Rs. 5,533.60 million, and Rs. 5,001.34 million, respectively, representing 90.85%, 91.94% and 91.00%, respectively of our revenue from operations. For details, please refer to Risk Factor 1 on page 40 of the Prospectus.

2. Negative Cash and Cash Equivalent: We have experienced negative cash and cash equivalent in Fiscals 2024 of Rs. (91.81) million. Any negative cash flows in the future would adversely affect our results of operations and financial condition. For details, please refer to Risk Factor 9 on page 48 of the Prospectus.

3. Brand related Risk: Our Company is operating in wholesale segment due to which we lack visibility and direct connection with the end consumers of our products which may adversely affect our ability to build brand loyalty and awareness with the end consumers.

4. Geographic Concentration Risk: We operate out of only two stores which are located at Kolhapur and Ulhasnagar in Maharashtra and any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around these particular geographical areas may have material adverse effect on our business and financial condition. The contribution of revenue from operations from Kolhapur and Ulhasnagar Stores, as a percentage of revenue from operations is as provided below:

For details, please refer to Risk Factor 2 on page 41 of the Prospectus.

5 Regional dependence: Over 80% of our sales are derived from the western zone and any adverse developments in this market could adversely affect our business. In Fiscals 2024, 2023 and 2022, the revenues generated from sales in western zone represented 82.68%, 81.37% and 80.88%, respectively of our revenue from operations. For details, please refer to Risk Factor 6 on page 44 of the Prospectus.

6. Competition Risk: We operate in highly competitive and fragmented industry with presence of large number of smaller unorganized players operating standalone outlets markets in each of our product segments and an inability to compete effectively may adversely affect our business, results of operations and financial condition.

7. Low margin business: Our business is a high volume-low margin business. Due to this nature of our business, our profit and operating margins are low. For Fiscals 2024, 2023 and 2022, our profit before tax margin was 6.43%, 5.13% and 3.00%, respectively and our profit after tax margin was 4.83%. 3.82% and 2.24%, respectively of our revenues. For details, please refer to Risk Factor 11 on page 49 of the Prospectus.

8. Seasonality Risk: Our business is subject to seasonality. For Fiscals 2024, 2023 and 2022, the revenues generated during festive season (of 3 months) and wedding season (of 3 months) contributed to 62.93%, 63.78% and 57.25%, respectively of our revenues. Lower revenues in the festive and wedding season of any fiscal may adversely affect our business, financial condition, results of operations and prospects. For details, please refer to Risk Factor 5 on page 44 of the Prospectus.

9. Dependence on Third Party weavers/suppliers: We are dependent on third party weavers/suppliers for sourcing our products and we do not have long-term or exclusive agreements with them. For the Fiscals 2024,2023 and 2022, our purchases from top 10 weavers/ suppliers were z1,395.68 million, 71,241.34 million, and z 1,528. 31 million, respectively, representing 25.68%, 22.89% and 26.81%, respectively of our total purchases.

10. Substantial Working Capital requirements: Our Company being in the wholesale sector requires significant amount of working capital for a continued growth. For the Fiscals 2024, 2023 and 2022, our working capital requirement was z 910.46 million, Rs. 509.58 million, and z 585.96 million, respectively. If our Company is unable to raise sufficient working capital, the operations of our Company could be adversely affected.

11. Inventory Risk: For Fiscals 2024.2023 and 2022, our inventory as a percentage of our Current Assets was 54.25%, 50.98% and 45.43%. respectively and inventory as a percentage of revenue from operations was 17.63%. 15.42% and 13.78%, respectively. Our inability to accurately forecast demand for our products and maintain an optimal level of inventory may be adversely affect our business, results of operations and financial condition. For details, please refer to Risk Factor 10 on page 48 of the Prospectus.

14. Average cost of acquisition of our Promoters and Promoter Group Selling Shareholders as on the date of Prospectus:

As certified by M/s. Sanjay Vhanbatte and Co.. Chartered Accountants, by way of their certificate dated August 05.2024.

16. The weighted average cost of acquisition of all Equity Shares acquired in last three years, 18 months and one year preceding the date of the Prospectus by are as follows:

As certified by M/s. Sanjay Vhanbatte and Co.. Chartered Accountants, by way of their certificate dated August 05, 2024.

17. Weighted average cost of acquisition, floor price and cap price:

As certified by M/s. Sanjay Vhanbatte and Co.. Chartered Accountants, by way of their certificate dated August 05. 2024.

This Offer was made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBIICDR Regulations. The Offer was made through the Book Building Process and was in compliance with Regulation 6{1) of the SEBI ICDR Regulations wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Offer was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs". and such portion, the "QIB Portion"). Further. 5% of the QIB Portion was allocated on a proportionate basis only to Mutual Funds and the remainder of the QIB Portion allocated on a proportionate basis to all QIB Bidders including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Ql B Portion, the balance Equity Shares of face value ofRs. 10 each allocated in the Mutual Fund Portion have been added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer was available for allocation to Non-lnstitutional Bidders out of which (a) one-third of such portion was reserved for applicants with application size of more than Rs. 0.20 million and up to Rs. 1.00 million; and (b) two-third of such portion was reserved for applicants with application size of more than Rs. 1.00 million provided that the unsubscribed portion in either of such sub-categories could be allocated to applicants in the other sub-category of Non-lnstitutional Bidders and not less than 35% of the Offer was available for allocation to Retail Individual Investors ("Rlls") in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Offer Price. AH potential Bidders were required to mandatory utilise the Application Supported by Blocked Amount ("ASBA") process by providing details of theĞr respective bank accounts (including UPI ID for UPI Bidders using UPI Mechanism) in which the Bid amount was blocked by the SCSBs or the Sponsor Banks, as applicable, to participate in the Offer. For details, see 'Offer Procedure' on page 332 of the Prospectus.

The Offer received 2.211.278 applications for 1.099.753.830 Equity Shares resulting in 109.97 times subscription as disclosed in the Prospectus. The details of the applications received in the Offer from Retail Individual Bidders. Non-lnstitutional Bidders and QIBs are as under (before technical rejections):

‘This includes 7.288 applications for 655.920 Equity Shares from Retail Individual Investor which were not in bcok but excludes bids (UPI Mandates & SCSBs cancelled) not accepted by investor.

A summary of the final demand as per NSE and BSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on August 16,2024.

A. Allotment to Retail Individual Bidders (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Offer Pnce of Rs. 160 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 64.80 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 3,500.280 Equity Shares to 38,892 successful applicants. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non-lnstitutional Bidders (more than f 0.20 million and upto Rs. 1 million) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders (more thanRs. 0.20 million and uptoRs. 1 million), who have bid at the Offer Price of <f 160 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 304.96 bmes The total number of Equity Shares allotted m this category is 500.040 Equity Shares to 396 successful applicants. The category-wise details of the Basis of Allotment are as under

C. Allotment to Non-lnstitutional Bidders (more thanf 1 million) (After Technical Rejections) (including ASBA Applications) (SAMPLE)

The Basis of Allotment to the Non- Institutional Bidders (more than Rs. 1 million), who have bid at the Offer Pnce of Rs. 160 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 388.60 times. The total number of Equity Shares allotted in this category is 1.000,080 Equity Shares to 793 successful applicants. The category-wise details of the Basis of Allotment are as under:

D. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs. who have bid at the Offer Pnce of Rs. 160 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 63.30 times of Net QIB portion. The total number of Equity Shares allotted in the QIB category is 5,000,400 Equity Shares, which were allotted to 78 successful Applicants. The category wise - details of the Basis of Allotment as under:

The Board of Directors of our Company at its meeting held on August 16.2024 has taken on record the bass of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants The Allotment Advice Cum Refund Intimation anchor notices have been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Issue Account on August 19.2024 and the payments to non-syndicate brokers have been issued on August 19.2024. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on August 16,2024 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on August 19.2024. The Company has received the listing and trading approval from BSE and NSE, and the trading win commence on August 20,2024.

Potential Bidders may note the following as a corrigendum (‘Corrigendum') to the red hemng prospectus dated August 06,2024, filed by our Company with SEBI and the Stock Exchanges ("RHP'):

1. The details of processing fees payable to Axis Bank Lrnied as Sponsor Bank (or applications made by Retail Individual Investors using the UPI Mechanism in the table

appeanng under serial number (3) on page 125 of the RHP shall be substituted with the following:

2. The cross reference to page number of 'Our Business - Overview" appearing in the third para of risk factor 15 shall be read as 'page 179" instead of page 172'.

The above changes are to be read in conjunction with the RHP and accordingly their references in RHP. as applicable stands updated pursuant to this Corrigendum. The information in this corrigendum supersedes the information in the RHP to the extent inconsistent with the information in the RHP. Please note that the changes pursuant to this Corrigendum has been included in the Prospectus.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

These details of the Allotment made was hosted on the website of Registrar to the Offer. BIGSH ARE SERVICES PRIVATE LIMITED at www.bigshareonline.com.

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of the Bid cum Application form number, Bidders DP ID. Client ID. PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares bid for. name of the Member of the Syndicate, place where the txd was submitted and payment details at the address given below

SARASWATI SAREE DEPOT LIMITED has filed the Prospectus with Registrar of Companies. Maharashtra at Pune. The Prospectus shall be available on the website of the SEBI at www.sebi.gov.in, the website of the BRLM to the Offer at www.unistonecapital.com and websites of BSE and NSE i.e. www.bseindia.com and www.nseindia.com. respectively and the website of the Company at www.saraswatisareedepot.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see section titled ‘Risk Factors"beginning on page 40 of the Prospectus. Potential investors should not rely on the DRHP for making any investment decision. Investors should instead rely on the information disclosed in the RHP and Prospectus.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the ‘Securities Act") or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the Securities Act and any applicable U.S. state securities laws. There will be no public offering in the United States and the securities being offered in this announcement are not being offered or sold in the United States.