SD Retail IPO: Sleepwear manufacturer SD Retail's initial public offering (IPO) which was opened for subscription on Friday, September 20 has ended today. 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.
On the final day of the subscription, SD Retail IPO had seen an overall subscription of 97 times. The segment reserved for retail investors had been subscribed 62.25 times, and the NIB segment had been subscribed 207 times. The QIB segment booked at 69.84 times.
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.
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.
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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