SS Retail, the multi-brand retail chain for mobile phones, accessories and electronic items, has announced its maiden public issue of ₹500 crore opening on September 16 and closing on September 18. The company has now fixed the price band at ₹403-424 per share with each share having a face value of ₹10. According to reports from CNBC TV18, the one-day anchor book will open for institutional investors on September 15, while the IPO share allotment is expected to be finalised by September 21. The company's equity shares are expected to start trading on the bourses from September 23. The IPO has a minimum market lot of 35 shares (one lot) with retail investors required to make a minimum investment of ₹14,840 at the upper end of the price band, and can bid in multiples of 35 shares thereafter.
The company is raising ₹360.75 crore through the issuance of fresh shares, while existing shareholders, including promoters, will sell shares worth ₹140 crore through an offer-for-sale. As reported by CNBC TV18, at the upper end of the price band, SS Retail will have a market capitalisation of ₹3,154 crore. The company has reserved shares worth ₹12 crore for its employees. Of the net offer, excluding the employee portion, 50 percent of the shares have been reserved for qualified institutional buyers, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. The promoters of the company are Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh and Bhavini Harshal Parekh, who collectively hold 75.74% pre-IPO shares.
SS Retail operates a multi-brand retail chain for mobile phones and accessories across five states—Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat. According to latest reports from The Hindu BusinessLine, the company has 503 stores as of March 2026, operating across 215 cities with 458 stores in Maharashtra, positioning it as the largest mobile phone retail chain in West India and the third-largest in India among its peers. The company counts listed companies such as Aditya Vision, Electronics Mart India, Jay Jalaram Technologies, Fonebox Retail and Umiya Mobile among its peers. During FY26, SS Retail acquired a 51% stake in Olineo Nexus India, which had 34 stores in Maharashtra. The company operates primarily through three brands -- SS Mobile, Mobile Exchange Wala and The Mobile Space -- dealing in multiple product categories across metros and small cities.
SS Retail reported a consolidated profit of ₹59.8 crore and revenue of ₹2,351 crore for the year ended March 2026. As reported by CNBC TV18, on a standalone basis, profit soared 49.6 percent year-on-year to ₹39.86 crore, while revenue increased 32.4 percent to ₹1,597.9 crore in the fiscal year ended March 2025. The company's debt to equity ratio stands at 0.58, while the Return on Net Worth (RoNW) is 32.60%. The company's Earning Per Share (EPS) is ₹9.11 (Basic), with a Net Asset Value (NAV) of ₹34.33. The company's EPS, PE Ratio, RoNW % and NAV are among the strongest in its peer group, positioning it favorably for the IPO valuation.
Of the net proceeds from the fresh issue, the company will spend ₹241.3 crore on part funding of incremental working capital requirements and ₹12.4 crore on setting up new stores in fiscal 2027 and fiscal 2028. According to the company's RHP, ₹5.81 crore will be used for fit-outs related to setting up 57 new stores in fiscal 2027, while ₹6.6 crore will fund 58 new stores in fiscal 2028. The remaining proceeds will be used for general corporate purposes. The IPO allotment will be finalized on September 21, 2026, with refunds processed on September 22, 2026 and credit to demat accounts on September 22, 2026.
