SD Retail IPO: Sleepwear manufacturer SD Retail’s initial public offering (IPO) opened for subscription on Friday, September 20, and will remain open until Tuesday, September 24. The SME IPO of ₹64.98 crore is a fresh issue of 49.6 lakh shares, out of which 14.12 lakh shares were reserved for anchor investors. Retail investors have been offered 16.49 lakh shares, while 7.07 lakh shares have been offered to non-institutional buyers (NIBs). For qualified institutional buyers (QIBs), the company reserved 9.42 lakh shares.
SD Retail IPO subscription status
By 1:20 pm on Friday, day 1 of the subscription window, SD Retail IPO had seen an overall subscription of 0.08 times. The segment reserved for retail investors had been subscribed 0.14 times, and the NIB segment had been subscribed 0.05 times. The QIB segment had not seen any subscriptions till that time.
SD Retail IPO GMP
The last grey market premium (GMP) of SD Retail IPO was ₹40. This indicates that investors are bullish about the IPO in grey market. Considering the upper price band of the issue at ₹131 and its last GMP, the estimated listing price of SD Retail shares is ₹171, at a premium of 30.53 per cent.
SD Retail IPO details
SD Retail IPO opened for subscription today and will remain open till Tuesday. With a price band of ₹124 to ₹131 per share, the issue aims to raise ₹64.98 crore.
The allotment of shares is expected to be finalised on Wednesday, September 25, and successful bidders can expect shares in their demat accounts on Thursday, September 26, while those who fail to get the allotment can expect the refund on the same day. Shares of the company may debut on Friday, September 27, on NSE SME.
The book-running lead manager is Beeline Capital Advisors Pvt Ltd, while Kfin Technologies is the registrar of the SD Retail IPO.
Retail investors can place a bid for a minimum of 1,000 shares, aggregating ₹1,31,000.
The net proceeds of the issue will be used to fund capital expenditures for setting up new exclusive brand outlets. The company intends to use some of the net proceeds to meet working capital requirements and for general corporate purposes.
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