SD Retail Laboratory made a strong start on the stock market today, with shares listed at ₹145 on NSE SME—an 11% premium over the issue price of ₹131. The company’s IPO, valued at ₹65 crore, was open for subscription from September 20 to 24, 2024, with shares priced between ₹124 and ₹131 each.
This IPO was entirely a fresh issue, with 49.6 lakh new shares sold, and no shares offered for sale. It received a huge response from investors, with an overall subscription rate of 97 times. Non-institutional investors (NIIs) oversubscribed by 207 times, while retail investors oversubscribed by 65 times.
The company plans to use the raised funds to open new exclusive brand outlets (EBOs), cover working capital needs, and for other business purposes.
About SD Retail Laboratory:
SD Retail designs, manufactures, and sells sleepwear under the brand “Sweet Dreams.” They offer a wide range of stylish and comfortable sleepwear for men, women, and kids. They’ve also expanded into related categories like loungewear, workout clothes, and athleisure.
Their products are sold through distributors, exclusive stores, multi-brand outlets, and major e-commerce platforms like Myntra, AJIO, Flipkart, Amazon, and their own website. As of March 2024, they have a pan-India presence with stores and outlets across many states and territories.
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