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SD Retail IPO: Day 3 Application status and GMP stand at 38 (29.01%)

The highly anticipated initial public offering (IPO) of SD Retail Ltd is set to open for subscription, offering potential investors a three-day window from September 20 to September 24, 2024. Investors are already abuzz with the details, as this IPO represents a significant opportunity in the retail sector. Price Band and Lot Size The price band for SD Retail’s IPO has been fixed between Rs 124 to Rs 131 per share, with each share carrying a face value of Rs 10. Retail investors looking to participate must apply for shares in lots, with the minimum lot size set at 1,000 shares. This translates to a minimum investment requirement of Rs 1,31,000 per lot at the higher end of the price band. Investors can, of course, opt to invest in larger multiples of the lot size based on their interest and risk appetite. Key IPO Stakeholders Several key entities are involved in ensuring the smooth execution of SD Retail's IPO. Kfin Technologies Limited has been appointed as the registrar for the IPO, responsible for managing the share allocation process and ensuring that refunds are processed swiftly for non-allocators. Beeline Capital Advisors Pvt Ltd is acting as the book-running lead manager for the issue, guiding the pricing and ensuring proper management of the offering process. Additionally, Spread X Securities is serving as the market maker, tasked with maintaining liquidity for the shares once they begin trading on the public market. Share Distribution Breakdown The IPO offers a total of 49,60,000 shares for public subscription. These shares have been allocated across several investor categories in the following manner: - 18.99% of the total shares have been earmarked for qualified institutional buyers (QIBs), including mutual funds, insurance companies, and other financial institutions. - 14.25% of the shares are reserved for non-institutional investors (NIIs), typically high-net-worth individuals or entities looking for substantial investment opportunities. - 33.25% are set aside for institutional sub-investors, a subset of large-scale investors. - 28.47% of the shares are allocated to anchor investors, who are typically large institutional investors securing a portion of the IPO in advance to lend confidence to other investors. This diversified share allocation ensures that the IPO is accessible to a range of investor types, promoting wide participation. Important Dates and Timelines For those interested in subscribing to the SD Retail IPO, keeping track of the important dates will be crucial: - IPO subscription dates: September 20 to September 24, 2024. Investors can place their bids during this period. - Allocation finalization: The allocation of shares is expected to be finalized on September 25, 2024. - Credit of shares: Successful applicants will see the shares credited to their demat accounts on September 26, 2024. - Refunds for non-allocators: Investors who did not receive allocations will begin receiving their refunds on the same day, i.e., September 26, 2024. - Listing date: SD Retail is expected to be listed on the NSE SME platform, Emerge, on September 27, 2024. Conclusion The SD Retail IPO is drawing attention due to its competitive pricing and strategic share allocation across various investor groups. With the retail sector in India poised for growth, this IPO could present a lucrative opportunity for both retail and institutional investors alike. Interested investors should carefully evaluate the company's red herring prospectus and monitor key dates to ensure timely participation. Read the full article