SS Retail shares are set to debut on BSE and NSE today, September 23, 2026, with strong grey market sentiment prevailing. The IPO is currently commanding a grey market premium of around 35%, pointing to expectations of a listing above the issue price. Jindal Supreme (India) Ltd. continues to maintain a 31% implied listing gain, while Hero Motors IPO shows a 2.38% discount to its upper price band. As per The Economic Times, investors will be closely watching the listing as the strong grey market premium indicates heightened pre-listing interest in the stock.
SS Retail IPO is a ₹500 crore public offer comprising a fresh issue of 85.08 lakh shares worth ₹360 crore and an Offer-for-Sale of 33.02 lakh shares worth ₹140 crore. Jindal Supreme (India) Ltd. is a ₹124.88 crore public offer comprising a fresh issue of 1.07 crore shares worth ₹99.89 crore and an Offer-for-Sale of 26.87 lakh shares worth ₹24.99 crore. Hero Motors IPO is a ₹1,000 crore public offer consisting of a fresh issue of 7.14 crore shares worth ₹600 crore and an Offer-for-Sale of 4.76 crore shares worth ₹400 crore. All three issues opened for subscription on September 16 and closed on September 18, with SS Retail and Jindal Supreme scheduled to list on September 23 and Hero Motors set to list on September 24 on BSE and NSE.
According to The Economic Times, SS Retail IPO achieved an overall subscription of 103.30 times by the final day, demonstrating robust investor demand across all categories. Jindal Supreme IPO recorded an exceptional overall subscription of 181.07 times, indicating overwhelming investor interest. Hero Motors IPO received a subscription of 6.66 times, showing moderate demand compared to the other two issues. SS Retail has a price band of ₹403 to ₹424 per share with retail investors requiring a minimum lot of 35 shares for ₹14,840. Jindal Supreme has a price band of ₹88 to ₹93 per share with retail investors needing 161 shares for ₹14,973. Hero Motors has a price band of ₹79 to ₹84 per share with retail investors requiring 178 shares for ₹14,952. The share allotment status for all three mainboard issues was finalized on Monday, September 21. SS Retail saw the QIB portion booked 203.61 times, NII portion 143.32 times, and retail category 36.36 times. Jindal Supreme recorded the highest subscription rates with NII at 327.99 times, QIB at 126.41 times, and retail at 149.34 times. Hero Motors received 9.86 times from NII, 8.23 times from retail, and 1.49 times from QIB categories.
As reported by IPO Watch, investors are tracking subscription levels and grey market premiums as unofficial indicators of market sentiment ahead of listing. The grey market premiums provide an unofficial gauge of investor sentiment, though they are not official data and can change before listing. SS Retail shows the strongest market confidence with its 35% implied listing gain and 103.30 times subscription, while Jindal Supreme reflects robust demand with its 31% implied listing gain and 181.07 times subscription. Hero Motors demonstrates more conservative market sentiment with its 2.38% discount and 6.66 times subscription. Based on the latest GMP figures, the GMP-implied gain per lot is ₹4,900 for SS Retail, ₹4,669 for Jindal Supreme, and -₹356 for Hero Motors. Grey market premiums are unofficial and subject to market volatility, so investors should evaluate business fundamentals before making investment decisions.
According to The Economic Times, SS Retail plans to use ₹241.35 crore towards part-funding its incremental working capital requirements, with the balance proceeds allocated towards General Corporate Purposes. The total estimated utilisation of the Net Proceeds is ₹253.80 crore. The company's product portfolio includes smartphones, pre-owned phones, accessories, TVs, laptops and tablets, along with services such as protection plans, EMI facilities, anti-theft software and mobile recharge. During FY2026, it acquired a 51.04% stake in Olineo Nexus India Pvt. Ltd., adding 34 stores to its network. As of March 31, 2026, SS Retail was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its peers, as per the cited industry report. The company had 689 permanent employees across various functions. Anand Rathi Advisors Ltd and Emkay Global Financial Services Ltd are the book-running lead managers for the issue, while KFin Technologies Ltd is acting as the registrar.
