Schedule of SD Retail
| Issue open dat- | 20 Sep 2024 |
| Issue close date | 24 Sep 2024 |
| UPI mandate deadline | 24 Sep 2024 (5 PM) |
| Allotment finalization | 25 Sep 2024 |
| Refund initiation | 26 Sep 2024 |
| Share credit | 26 Sep 2024 |
| Listing date | 27 Sep 2024 |
| Mandate end date | 09 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 25 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 24 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About SD Retail
Incorporated in 2004, SD Retail is in the business of designing, manufacturing, outsourcing, marketing, and retailing sleepwear under the brand name “Sweet Dreams”. The company’s sleepwear products include Pyjamas, Night Sets, Nighties, T-shirts, etc. The products mainly cater to men and women across all age groups including kids (from age 2 to 16 years) and fit that are suitable to various body types and physiques. In addition, it offers adjacent categories such as loungewear, workout wear, athleisure, and work leisure pants. The company sells its products through distributors, exclusive brand outlets (EBOs), and multi-brand outlets (MBOs) located across various states and union territories in India. It also sells its products through e-commerce platforms such as Myntra, AJIO, Nykaa, Flipkart, Amazon, and its website. In the past two years, it has undertaken the journey of building a network of 33 existing exclusive brand outlets (EBOs).
Financials of SD Retail
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹64.98 crores |
| Fresh Issue | ₹64.98 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 16.49 (25.38%) |
| Working capital requirements | 35 (53.86%) |
| General corporate purposes | 13.49 (20.76%) |
Strengths
- The company has established a multi-channel pan-India presence through various touchpoints, which include exclusive brand outlets (EBOs), large format stores (LFS), and multi-brand outlets (MBOs)
- The company has In-house expertise in designing and developing products. Its designs are known for being colorful, playful, and bold. It sets ourselves apart from other sleepwear brands by targeting shoppers looking for something more stylish.
- Compared to other competitors, Sweet Dreams stands out as the only gender-agnostic brand offering fashionable sleepwear for the entire family, bypassing the innerwear categorization. The product is categorized under Western clothing, with ethnic elements in subcategories such as nighties.
- The company works on a scalable business model as it is order-driven, and comprises optimum utilization of designing, manufacturing, processing, and marketing facilities, developing linkages with quality raw material suppliers, and achieving consequent economies of scale.
Risks
- The products are sold under a single brand, ‘Sweet Dreams’. Any inability to effectively market its products, or any deterioration in public perception of the brand, could affect consumer footfall and consequently adversely impact the business.
- The company operates in highly competitive markets in each of its product segments in both offline and online channels and an inability to compete effectively may adversely affect the business, results of operations, and financial condition.
- Pricing pressure from its competitors may affect the ability to maintain or increase the product prices and, in turn, the revenue from product sale, gross margin, and profitability, which may materially and adversely affect the business.
- The company derives nearly 63% of its revenue from operations from offline retail distribution channels. If it fails to grow revenues from online sales, the company will continue to remain dependent on offline sales channels and any attendant risks.