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1) SD Retail IPO size
The IPO is entirely a fresh equity issue of 49.60 lakh shares and through the issue, the company plans to raise Rs 65 crore.
2) SD Retail IPO price band
The company is offering its shares at Rs 124-131 apiece, and investors can bid for 1,000 shares in 1 lot. It is a book building issue and investors can subscribe to it between 9 am and 5 pm.
3) SD Retail IPO GMP
In the unlisted market, the company’s shares are commanding a grey market premium of Rs 30 ahead of issue opening.
4) About SD Retail
Incorporated on May 14, 2004, S D Retail Private Limited was converted into a public limited company following shareholders resolution passed on May, 13, 2024. The name was changed to S D Retail Limited. It operates a brand named ‘Sweet Dreams’. It sold its products through distributors, exclusive brand outlets (EBOs), and multi-brand outlets (MBOs) located across various states and union territories in India. It also sells its products through e-commerce platforms such as Myntra, AJIO, Nykaa, Flipkart, Amazon and through its own website. It sells its products across India and internationally through multiple distribution channels.
The company’s Chairman/Chairperson of Board of Directors is Hitesh Pravinchandra Ruparelia.
5) Industry overview
The India sleepwear market is anticipated to reach a market size of $1,304 million by 2029, with progressive CAGR of 15.12% by 2024-29. The sleepwear industry in India has witnessed significant growth over the past decade. Traditionally, sleepwear in India consisted of simple and utilitarian garments, but evolving fashion trends, increasing disposable income, and a growing awareness of comfort and lifestyle have transformed this sector into a dynamic and profitable market.
6) SD Retail financial performance
For the year ended March 31, 2024, the company clocked total revenues of Rs 163.28 crore which was up from Rs 136 crore as on March 31, 2023. The profit after tax (PAT) in the said period stood at Rs 7.60 crore and Rs 4.3 crore, respectively.
7) Objects of the offer
The company intends to utilise the net proceeds of the issue to meet the capital expenditure to be incurred by the company for setting up new exclusive brand outlets (EBOs), funding working capital requirement and general corporate purpose.
8) Lead managers and Registrar
Beeline Capital Advisors Private Limited is acting as the lead manager to the issue and Kfin Technologies Limited is the registrar.
9) Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.
10) Important dates
The IPO opened on September 20 and will close on September 24. The final allotment will likely be made on September 25. The company’s shares will likely get listed on September 27.
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