SD Retail Limited Raises 1849.72 Lakhs Pre-IPO Allocation

Ahmedabad's SD Retail Limited successfully raised 1849.72 Lakhs before its Initial Public Offering (IPO). The sleepwear brand 'SWEET DREAMS' allocated 14, 12,000 equity shares at Rs. 131 each to 11 anchor investors. The funds will be used for capital expenditure, working capital, and other corporate purposes.

SD Retail Limited, an Ahmedabad-based company specializing in sleepwear under the brand 'SWEET DREAMS,' has successfully raised Rs 1849.72 Lakhs in a pre-IPO allocation. The company informed the NSE that it had issued 14,12,000 equity shares at Rs 131 per share to anchor investors on September 19, 2024, ahead of its Initial Public Offering.

Eleven anchor investors, including North Star Opportunities Fund and Beacon Stone Capital, participated in the allocation. The IPO, priced between Rs 124 and Rs 131 per share, aims to raise Rs 64.98 crore. Retail, HNI, and QIB bids will open on September 20 and close on September 24, 2024, with a lot size of 1,000 equity shares.

The proceeds from the IPO will be used for capital expenditure, working capital, and general corporate purposes. SWEET DREAMS, a brand known for its stylish and comfortable sleepwear for the entire family, has achieved a net profit of Rs 7.59 crore in FY24, up from Rs 4.3 crore in FY23. The company plans to expand its retail network, enhance D2C sales, and strengthen its online presence.

(With inputs from agencies.)