SD Retail hits 5% upper circuit after listing at over 10% premium on NSE SME; check details

Shares of SD Retail Limited made a decent debut on the NSE Emerge platform on Friday, September 27, listing at a premium of over 10%.

SD Retail shares listed on the NSE SME platform at ₹145 apiece, up 10.68%, compared to its initial public offering (IPO) price of ₹131. After listing, the stock rallied further to hit the 5% upper circuit at ₹152.25 apiece.

The minimum bidding quantity in the SD Retail IPO was 1,000 shares. The successful bidders, who were allotted shares in the primary issue, would have made a profit of at least ₹14,000 (₹14 x 1,000) as soon as the stock started trading on the exchange.

After the stock began to trade, 13.39 lakh shares of the company changed hands on the NSE. The company's total market capitalisation stood at ₹285.05 crore.

SD Retail IPO details

₹64.98-crore book-building issue of SD Retail Limited consisted of a fresh issuance of 49.6 lakh shares. The price band of the IPO was set at ₹124 to ₹131 per share. The NSE SME issue was open for subscription from September 20 to September 24.

SD Retail IPO was booked more than 97.19 times during the three-day subscription period. Investors across categories placed bids for over 32.05 crore shares of SD Retail Limited against net issue size of 32.98 lakh shares.

The non-institutional investors (NIIs) quota was booked 207.98 times. Retail investors’ quota was oversubscribed nearly 65.32 times, while the qualified institutional buyers’ segment was booked 69.84 times.

SD Retail IPO objective

SD Retail plans to use the money raised via the public issue to set up new exclusive brand outlets, fund working capital requirements, and fund general corporate purposes.

About SD Retail Limited

SD Retail was incorporated in May 2004. The company designs, manufactures, markets and sells sleepwear under the brand name ‘Sweet Dreams’. The company designs sleepwear for men, women and kids aged 2-16 years. The company distributes its products to retailers through distributors, exclusive brand outlets (EBOs) and multi-brand outlets (MBOs). It also offers its products through e-commerce platforms such as Myntra, AJIO, Nykaa, Flipkart and Amazon. The company employed 240 individuals across various departments, as of May 31, 2024.