SS Retail, a leading mobile and electronics retailer in India, is set to launch its initial public offering (IPO) on September 16, 2026. The company aims to raise approximately Rs. 500 crore through this public issue, which includes both a fresh issue and an offer for sale.
IPO Details and Key Dates
The three-day subscription period will run from September 16 to September 18, 2026. The price band has been fixed at Rs. 403 to Rs. 424 per equity share, with a face value of Rs. 10 each. Investors can bid for a minimum lot of 35 shares, and in multiples of 35 thereafter. At the upper price band, one lot will cost Rs. 14,840.
The anchor book will open on September 15, one day before the public bidding begins. The basis of allotment is expected to be finalized on September 21, with refunds and share credits scheduled for September 22. The company anticipates its shares will start trading on the BSE and NSE on September 23.
Offer Structure and Allocation
The IPO comprises a fresh issue of shares worth Rs. 360.75 crore and an offer for sale worth Rs. 140 crore. For the net offer, up to 50% has been reserved for qualified institutional buyers, at least 35% for retail investors, and at least 15% for non-institutional investors. Additionally, shares worth up to Rs. 12 crore have been reserved for eligible employees, who will receive a Rs. 25 discount per share.
Use of IPO Proceeds
SS Retail plans to utilize Rs. 241.3 crore from the fresh issue for additional working capital requirements. Another Rs. 12.4 crore has been earmarked for store fit-outs as the company expands its retail network during fiscal 2027 and fiscal 2028. The remaining proceeds will be used for general corporate purposes.
The company intends to open 57 new stores in fiscal 2027 and 58 new stores in fiscal 2028, allocating approximately Rs. 5.81 crore and Rs. 6.6 crore for these expansions, respectively.
Business Overview and Financial Performance
SS Retail operates a multi-brand retail network selling mobile phones, accessories, and other electronic products. As of March 2026, it operated 503 stores across Maharashtra, Karnataka, Madhya Pradesh, Goa, and Gujarat, with 458 stores in Maharashtra alone. The company identifies itself as the largest mobile phone retail chain in West India and the third-largest in India among its peers.
For the year ended March 2026, SS Retail reported consolidated revenue of approximately Rs. 2,352.85 crore and a profit after tax of Rs. 59.28 crore. In fiscal 2025, standalone revenue stood at Rs. 1,597.9 crore, with a profit of Rs. 39.86 crore.
The IPO is being managed by Anand Rathi Advisors and Emkay Global Financial Services as the book-running lead managers.