SD Retail IPO Day 3: NSE SME issue booked 97 times; check subscription status and other key details

SD Retail IPO closed with a bumper demand on the final day of bidding on Tuesday, September 24, as the public offer was booked over 97.15 times driven by strong demand from NIIs and retail investors.

The NSE SME issue received bids for more than 32.04 crore shares against 32.98 lakh shares on offer.

The retail investors booked their quota 65.24 times with applications for 10.75 crore shares against 16.49 lakh shares reserved for them. The Non-Institutional Investors (NIIs) booked their category 207.97 times by applying for 14.7 crore shares against 7.07 lakh shares reserved for the segment. The Qualified Institutional Buyers (QIBs) applied for 6.57 core shares against 9.42 lakh shares reserved for the category. The QIBs portion was booked 69.84 times.

SD Retail IPO offer size and other details

SD Retail IPO was a book-building issue aimed at raising ₹64.98 crore. The NSE SME IPO comprised a fresh issue of 49.6 lakh shares and there was no offer-for-sale (OFS) portion.

The IPO price band was fixed between ₹124 and ₹131 per share.

The minimum application size for retail investors was a single lot of 1,000 shares, amounting to an investment of ₹1,31,000. For the High Net-Worth Individuals (HNIs) the bidding size was (2,000 shares), amounting to a minimum investment of ₹2,62,000.

SD Retail IPO listing date

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

Successful bidders will receive shares in their Demat accounts on September 26, and refunds for non-allottees will be initiated the same day.

The company's shares are scheduled to be listed on the NSE SME platform on September 27.

SD Retail IPO registrar

Kfin Technologies Limited is the registrar for the SD Retail IPO, while Beeline Capital Advisors is the book-running lead manager.

SD Retail IPO objective

The company plans to use the net proceeds from the public offer to finance capital expenditures for establishing new exclusive brand outlets (EBOs). The company will also allocate a portion of the IPO funds for working capital needs and general corporate purposes.

About SD Retail Limited

The company was founded in May 2004. The company manufactures stylish and comfortable sleepwear under the brand Sweet Dreams for different categories of customers, including men, women, and children aged 2 to 16 years.

As of February 29, 2024, the company’s products were available through exclusive brand outlets (EBOs), multi-brand outlets (MBOs), and e-commerce platforms like Myntra and Amazon. The company also exports its products to several countries. It follows an asset-light model for efficient scalability and quick setup of new EBOs.