Sleepwear-focused company
S D Retail Limited’s Initial Public Offering to open on Friday, September
20, 2024, price band set at ₹ 124/- to ₹ 131/- per Equity Shares
·
Price Band of ₹124/
– ₹131/- per equity share bearing face value of ₹10/- each (“Equity Shares”).
·
Issue size: ₹ 64.98
Cr (upper price band).
·
The IPO will open
for subscription on Friday, September 20th, 2024 and close on Tuesday,
September 24th, 2024
·
Lot Size: 1000
Equity Shares
·
QIB Quota: 23,54,000
Equity Shares (Including Anchor Reservation)
·
HNI Quota: 7,07,000
Equity Shares
·
Retail Quota:
16,49,000 Equity Shares
·
Market Maker
Portion: 2,50,000 Equity Shares
Ahmedabad-based
Sleepwear-focused company S D Retail Limited (“The Company”) is in the business
of designing, manufacturing, outsourcing, marketing, and retailing sleepwear
under the brand name “SWEET DREAMS”. The company has fixed the price band of ₹124/-
to ₹131/- per Equity Share of face value ₹10/- each for its Initial Public Offering
(“IPO” or “Offer”). Retail Investors, HNIs, and QIBs can bid for IPO from Friday,
September 20th, 2024, to Tuesday, September 24th, 2024.
The proceeds from
its fresh issuance worth Rs 16.48 crore will be utilized for Capital
expenditure to be incurred by the Company for setting up new exclusive brand
outlets (“EBOs”), Rs 35 crore for Funding Working Capital Requirements, and the
rest for general corporate purposes.
The Company offers a
diverse range of stylish and comfortable sleepwear for the entire family,
celebrating the transition from work to home life and addressing every aspect
of leisure time. By combining comfort, style, and functionality, SWEET DREAMS
has carved out a unique position in a habitual apparel category, with customers
wearing its clothes daily.
The brand primarily
targets modern Indian women's sleepwear needs, as this demographic is highly
engaged with the category across various retail channels. Additionally, S D
Retail Limited provides sleepwear for men and children, whose casual attire is
often purchased by women in the household. The company boasts one of the
broadest selections of sleepwear among Indian apparel retailers, offering a
variety of fabrics, colours, and styles, including pyjamas, night sets,
nighties, and T-shirts.
The company sells
its products through distributors, exclusive brand outlets (EBOs), and
multi-brand outlets (MBOs) across various states and union territories in
India. Its products are also available on e-commerce platforms like Myntra,
AJIO, Nykaa, Flipkart, Amazon, and the company's own website, enabling sales
both domestically and internationally. The company has an established track
record of around 20 years, and the Promoter and Managing Director, supported by
an experienced team, have been instrumental in their growth.
The company tends to
strengthen its leadership position in the sleepwear market and focus on
additional product launches, expand its retail network with a focus on EBOs,
leverage technology to shift towards D2C sales and strengthen its online
presence by capitalizing on the e-commerce trend.
S D Retail clocked a
profit of Rs 7.59 crore in the financial year FY24 as compared to a net profit
of Rs 4.3 crore in FY23. Revenue from operations had increased by 20.34% from Rs
135.08 crore in FY23 to Rs 162.55 crore in FY24, primarily due to an increase
in sales of products & Export Incentive during the year, EBO’s business,
LFS business, Online business, doing well as compared to FY23.
Beeline Capital
Advisors Private Limited is the sole book running lead manager, and KFIN
Technologies Limited is the registrar of the issue.