1) SD Retail IPO size
The IPO is a greenfield 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 a price of Rs 124-131 each and investors can bid for 1,000 shares in one lot. This is a portfolio accumulation issue and investors can subscribe between 9 am and 5 pm.
3) SD Retail GMP IPO
In the unlisted market, the company’s shares are commanding a grey market premium of Rs 30 before the opening of the issue.
4) About SD Retail
Established on 14 May 2004, SD Retail Private Limited was converted into a public limited company following the shareholders’ resolution passed on 13 May 2024. The name has been changed to SD Retail Limited. It operates a brand called ‘Sweet Dreams’. It sold its products through distributors, Exclusive Branded Outlets (EBOs) and Multi-Branded Outlets (MBOs) located across various states and union territories in India. It also sells its products through e-commerce platforms like Myntra, AJIO, Nykaa, Flipkart, Amazon and through its own website. It sells its products across India and internationally through multiple distribution channels.
The Chairman and President of the Company is Hitesh Pravinchandra Ruparelia.
5) Industry overview
India sleepwear market The market is projected to reach a size of $1,304 million by 2029, growing at a 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, utilitarian garments, but evolving fashion trends, rising disposable incomes, and increased 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 posted total revenue of Rs 163.28 crore, up from Rs 136 crore as on March 31, 2023. Profit after tax (PAT) for the said period stood at Rs 7.60 crore and Rs 4.3 crore, respectively.
7) Objects of the offer
The Company intends to use the net proceeds from the issue to meet the Company’s capital expenditures for establishing new Exclusive Branded Outlets (EBOs), funding working capital requirements and general corporate purposes.
8) Senior Managers and Registrar
Beeline Capital Advisors Private Limited is acting as lead manager to the issue and Kfin Technologies Limited is the registrar.
9) Structure of the issue
Approximately 50% of the offering is reserved for QIB investors, 35% for retail investors and the remaining 15% for non-institutional investors.
10) Important dates
The IPO opened on September 20 and will close on September 24. Final allotment will likely take place on September 25. The company’s shares will likely begin trading on September 27.
(Disclaimer:The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of the Economic Times)
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