September 20, 2024
New Delhi, India
SME IPO
SD Retail’s IPO, a sleepwear manufacturer, opened for subscription on September 20, 2024. The company aims to raise ₹64.98 crore by offering 49.6 lakh shares. The public issue will remain open until September 24, 2024.
Key IPO Details
- IPO Size: ₹64.98 crore
- Issue Type: Fresh issue of 49.6 lakh shares
- Price Band: ₹124 to ₹131 per share
- Retail Investors: 16.49 lakh shares reserved
- Non-Institutional Buyers (NIBs): 7.07 lakh shares offered
- Qualified Institutional Buyers (QIBs): 9.42 lakh shares reserved
- Anchor Investors: 14.12 lakh shares allocated
- IPO Close Date: September 24, 2024
- IPO Allotment Date: September 25, 2024
- Listing Date: September 27, 2024, on NSE SME
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Grey Market Premium (GMP)
As of the last update, the Grey Market Premium (GMP) for SD Retail IPO stands at ₹40, indicating a potential 30.53% premium over the upper price band of ₹131. Based on the current GMP, the estimated listing price for SD Retail shares is around ₹171.
IPO Allotment and Refunds
- Allotment Finalization: September 25, 2024
- Shares Credited to Demat Accounts: September 26, 2024
- Refunds: Expected to be processed on September 26, 2024
Also Read: Western Carriers India IPO Allotment Likely Today: Check Status and GMP Details
Use of Proceeds
The company plans to utilize the net proceeds to fund the following:
- Capital expenditures for establishing new exclusive brand outlets
- Working capital requirements
- General corporate purposes
The book-running lead manager for the issue is Beeline Capital Advisors Pvt Ltd, with Kfin Technologies serving as the registrar. Retail investors can place bids for a minimum lot size of 1,000 shares, amounting to an investment of ₹1,31,000 at the upper price band.
Disclaimer:
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