20-Aug-2025 17:13
Patel Retail IPO subscribed 19.48 times
The initial public offer of Patel Retail received bids for 15,22,78,014 shares as against 78,15,612 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (20 August 2025). The issue was subscribed 19.48 times.
The issue opened for bidding on 19 August 2025 and it will close on 21 August 2025. The price band of the IPO is fixed between Rs 237 and 255 per share. An investor can bid for a minimum of 58 equity shares and in multiples thereof.
The IPO comprises a fresh issue of 85,18,000 equity shares worth up to Rs 217.21 crore and an offer for sale of 10,02,000 equity shares amounting to Rs 25.55 crore.
The objectives for the fresh issue include Rs 109 crore for funding working capital requirements, Rs 59 crore for repayment/prepayment of certain borrowings, and the remaining amount for general corporate purposes.
The promoters and promoter group hold an aggregate of 2,43,82,528 equity shares, aggregating to 98% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 70%.
Patel Retail is a value-focused supermarket chain operating 43 stores across 17 cities in Maharashtra, with average annual revenue per store of about Rs 88 crore in FY25. Its business spans retail (including private labels Patel Fresh, Indian Chaska, Blue Nation, and Patel Essentials) and non-retail activities like trading and exports, which contributed one-third of total sales across 35+ countries. The company plans further cluster-based expansion in MMR's western suburbs, Pune, and other parts of Western and Central India.
Ahead of the IPO, Patel Retail on Monday, 18 August 2025, raised Rs 43.46 crore from anchor investors. The board allotted 17.04 lakh shares at Rs 255 each to 6 anchor investors.
The firm reported a consolidated net profit of Rs 25.28 crore and sales of Rs 820.69 crore for the twelve months ended on 31 March 2025.
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