NSE SME S D Retail climbs on listing day

The scrip was listed at Rs 145, a premium of 10.69% over the initial public offer (IPO) price. The stock was currently up 2.07% over its listing price.

The counter hit a high of Rs 152.25 and a low of Rs 144. About 20.46 lakh shares of the company changed hands at the counter.

S D Retail's IPO was subscribed 64.62 times. The issue opened for bidding on 20 September 2024 and it closed on 24 September 2024. The price band of the IPO was set at Rs 124 to Rs 131 per share.

The IPO comprised fresh issue of 49,60,000 equity shares. The promoter and promoter group shareholding diluted to 65.29% from 88.82% pre-issue.

The company intends to utilize the net proceeds to meet working capital requirement, capital expenditure to be incurred by the company for setting up new exclusive brand outlets (EBOs) and general corporate purpose.

Ahead of the S D Retail on 19 September 2024, raised Rs 18.49 crore from anchor investors. The board allotted 14.12 lakh shares at Rs 131 per share to 11 anchor investors.

S D Retail, established in 2004, is a sleepwear company specializing in designing, manufacturing, and retailing sleepwear for the entire family. Their brand, Sweet Dreams, offers a wide range of products, including pajamas, night sets, nighties, t-shirts, and loungewear, catering to various age groups, body types, and fashion preferences. It sells products through distributors, exclusive brand outlets (EBOs), and multi-brand outlets (MBOs) located across various states and union territories in India. It also sells products through e-commerce platforms such as Myntra, AJIO, Nykaa, Flipkart, Amazon, and its own website.

The company had 33 exclusive brands outlets (EBOs). As of 31 July 2024, it had 237 employees.

The company recorded revenue from operations of Rs 162.55 crore and net profit of Rs 7.59 crore for the period as of 31 March 2024.