SD Retail IPO Day 1: NSE SME issue booked 66%, check subscription status and key details

SD Retail Limited IPO was booked 66% on the first day of bidding on Friday, September 20. The NSE SME issue received bids for more than 22.04 lakh shares compared to 32.98 lakh shares on offer.

The retail portion of the IPO was subscribed 75% with bids for 12.41 lakh shares against 16.49 lakh shares reserved for the category.

The non-institutional investors (NIIs) applied for 8.1 lakh shares against 7.07 lakh shares set aside for the category. The NIIs booked their quota 1.14 times.

The Qualified Institutional Buyers (QIBs) booked their category 16% with applications for 1.52 lakh shares against 9.42 lakh shares reserved for the segment.

SD Retail IPO offer size, price band and minimum investment

SD Retail IPO is a book-built issue worth ₹64.98 crore consisting entirely of a fresh issue of 49.6 lakh shares.

The IPO's price band has been fixed between ₹124 and ₹131 per piece. Retail investors can apply for a minimum lot size of 1,000 shares, requiring an investment of ₹1,31,000.

For high-net-worth individuals (HNIs), the minimum application size is 2 lots (2,000 shares), totalling ₹262,000.

SD Retail IPO dates

The bidding window for the SD Retail IPO is open from September 20 to September 24. The allotment status for the company's IPO is expected to be finalised on September 25.

Successful bidders will have their shares credited to their Demat accounts on September 26, and refunds for those not allotted shares will also be processed the same day.

SD Retail Limited shares are expected to be listed on the NSE platform on Friday, September 27.

SD Retail IPO registrar

The registrar of SD Retail IPO is Kfin Technologies Limited with Beeline Capital Advisors acting as the book-running lead manager for the issue, and Spread X Securities is the market maker for the company.

SD Retail IPO objective

The company plans to use the net proceeds from the offering to allocate capital expenditures for establishing new exclusive brand outlets (EBOs), funding its working capital requirements, and addressing general corporate purposes.

About SD Retail Limited

Founded in May 2004, S D Retail Limited offers stylish and comfortable sleepwear under the brand Sweet Dreams for the whole family, including men, women and children aged 2-16.

As of February 29, 2024, products are sold through exclusive brand outlets (EBOs), multi-brand outlets (MBOs) and e-commerce platforms like Myntra and Amazon, both in India and internationally.

The company operates on an asset-light model, facilitating efficient scalability and rapid establishment of new EBOs.