SD Retail Shares List At 10.68% Premium Over IPO Price; Hits Upper Circuit

Shares of SD Retail Ltd. debuted on the National Stock Exchange at a premium of 10.68% over the issue price. The stock was listed at Rs 145 piece on NSE against the upper price band of Rs 131 in the IPO.  

Investors, allotted a minimum of one lot or 1,000 shares in the SD Retail IPO, would be sitting on a profit of Rs 14,000 at the time of listing.  

Shares of SD Retail Ltd. further gained to hit a 5% upper circuit at Rs 152.25 apiece on the NSE. 

The grey market premium on shares of SD Retail stood at Rs 20 as per the last update ahead of the listing. As per InvestorGain, the anticipated listing price of the initial public offering of SD Retail was Rs 151. 

Investors must note the GMP is speculative and may not reflect the official pricing for a share.

SD Retail IPO was a fresh issue of 49.6 lakh shares worth Rs 64.98 crore with no offer for sale component.

Kfin Technologies Ltd. was the registrar for the IPO while Beeline Capital Advisors Pvt. served as the book-running lead manager for the IPO.

The offering was booked over 97.15 times during the bidding window from Sept. 20 to Sept. 24. The SD Retail IPO subscription was led by heavy demand from non-institutional investors who booked their allocation over 209.9 times. The issue was booked 69.84 times in the qualified institutional buyers section and 65.24 times in the retail category.

SD Retail Ltd. aims to use the net proceeds from the IPO to fund capital expenditure on opening exclusive brand outlets or EBOs. Further, a portion of the fund will also be used for meeting working capital requirements and other general corporate purposes.

Established in 2004, SD Retail Ltd. is a manufacturer and retailer of sleepwear for men and women across all age groups. The company sells its products under the brand 'Sweet Dreams'. Its product portfolio also includes loungewear, workout wear, athleisure and work leisure pants.