SS Retail IPO
Bookbuilding IPO | ₹500.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Wed, Sep 16, 2026
IPO Close
Fri, Sep 18, 2026
Price Band
₹403.00 to ₹424.00
Market Cap (Pre-IPO)
₹3,153.36 Cr
IPO Details
| IPO Date | Sep 16, 2026 to Sep 18, 2026 |
| Listing Date | Tentative: Sep 23, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹403.00 to ₹424.00 |
| Lot Size | 35 Shares (Minimum: ₹14,840.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹500.00 Crores |
| Total Shares Offered | 11,810,182 shares |
| Fresh Issue | 8,508,298 shares |
| Offer For Sale | 3,301,884 shares |
SS Retail IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Offer |
SS Retail IPO Lot Size
Investors can bid for a minimum of 35 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,840 |
| Retail (Max) | 13 | 455 | ₹192,920 |
| S-HNI (Min) | 14 | 490 | ₹207,760 |
| S-HNI (Max) | 67 | 2,345 | ₹994,280 |
| B-HNI (Min) | 68 | 2,380 | ₹1,009,120 |
SS Retail Financial Information (Restated Consolidated)
SS Retail Ltd.'s revenue increased by 47% and profit after tax (PAT) rose by 49% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 575.42 | 389.44 | 278.25 |
| Total Income | 2,352.85 | 1,599.96 | 1,208.04 |
| Profit After Tax | 59.28 | 39.86 | 26.65 |
| EBITDA | 125.15 | 80.44 | 56.50 |
| NET Worth | 225.71 | 141.37 | 101.51 |
| Reserves and Surplus | 159.59 | 128.18 | 88.52 |
| Total Borrowing | 162.59 | 125.36 | 110.43 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 30.60% |
| ROCE (Return on Capital Employed) | 29.30% |
| Debt/Equity | 0.70 |
| RoNW (Return on Net Worth) | 32.60% |
| PAT Margin (Profit After Tax Margin) | 2.52% |
| EBITDA Margin | 5.32% |
| Price to Book Value | 12.35 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 9.00 | 7.97 |
| P/E (x) | 47.11 | 53.20 |
Company Overview
SS Retail Limited – Company Overview
- SS Retail Limited was incorporated in June 2016 and operates as a multi-brand retail chain for mobile phones, accessories, and other electronic products.
- The company operates across Maharashtra, Karnataka, Madhya Pradesh, Goa, and Gujarat, with a primary focus on Tier II, Tier III, and smaller cities.
- As of March 31, 2026, the company operated 503 stores across 215 cities, covering approximately 2,41,365 sq. ft.
- The company operates under its proprietary brands ‘SS Mobile’, ‘Mobile Exchange Wala’, and ‘The Mobile Space’ through a combination of company-owned and franchisee-operated stores.
- Its product portfolio includes mobile phones, pre-owned smartphones, accessories, televisions, laptops, and tablets.
- The company also provides ancillary services such as mobile protection plans, EMI facilities, anti-theft software, and mobile recharge services.
- As of July 31, 2026, its retail network had expanded to 536 stores covering approximately 2,60,597 sq. ft.
- The company follows a scalable retail model comprising COCO, COFO, and FOFO store formats and uses local franchisee partnerships to expand its presence across regional markets.
- During Fiscal 2026, the company acquired a 51.04% shareholding in Olineo Nexus India Private Limited, adding 34 stores to its retail network.
- As of March 31, 2026, the company was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its peers, according to the cited industry report.
- As of March 31, 2026, the company had 689 permanent employees across management, accounts and audit, operations, sales, sales support, supply chain, HR, and administration.
Company Strengths
- Large and rapidly expanding retail store network.
- Scalable COCO, COFO and FOFO business models.
- Strong presence in Tier II and Tier III and beyond cities.
- Strong customer reach through local franchisee partnerships.
- Largest mobile phone retail chain in West India and Maharashtra.
- Experienced Promoter and management team with strong domain expertise.
- Wide product portfolio with focus on mobile phones, accessories and electronic items.
- Established brand presence through SS Mobile, Mobile Exchange Wala and The Mobile Space.
SS Retail IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| SS Retail Ltd. | 9.11 | 9.11 | 34.33 | - | 32.60 | - | Consolidated |
| Aditya Vision Limited | 9.07 | 9.05 | 53.26 | 66.29 | 18.38 | 11.30 | Standalone |
| Electronics Mart India Limited | 2.78 | 2.78 | - | 62.66 | 6.81 | - | Consolidated |
| Jay Jalaram Technologies Limited | 8.59 | 8.59 | - | 14.41 | 13.74 | - | Consolidated |
| Fonebox Retail Limited | 6.63 | 6.63 | 40.25 | 15.08 | 17.94 | 2.50 | Consolidated |
| Bhatia Communications & Retail (India) Limited | 1.31 | 10.33 | 7.08 | 24.44 | 15.16 | 4.57 | Standalone |
| Umiya Mobile Limited | 7.09 | 7.09 | 46.31 | 8.46 | 29.32 | 1.30 | Standalone |
Quick Info
| Sector | diversified retail and consumer electronics/mobile retail |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹3,153.36 Cr |
Important Dates
| IPO Open | Sep 16, 2026 |
| IPO Close | Sep 18, 2026 |
| Allotment Date | Sep 21, 2026 |
| Credit to Demat | Sep 22, 2026 |
| Listing Date | Tentative: Sep 23, 2026 |
Lead Manager(s)
Anand Rathi Advisors Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹500.00 crores.
- Issue Structure: The issue is a combination of a fresh issue of 85.08 lakh shares aggregating to ₹360.00 crores and an offer for sale of 33.02 lakh shares aggregating to ₹140.00 crores.
- IPO Dates: The issue opens for subscription on September 16, 2026 and closes on September 18, 2026.
- Allotment Date: The allotment is expected to be finalized on September 21, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on September 23, 2026.
- Retail Investment Requirement: Minimum 1 lot (35 shares) amounting to approximately ₹14,840 at the upper price band.
- Issue Price Band: ₹403 to ₹424 per equity share.
- Lot Size: 35 shares per lot.
This IPO offers investors an opportunity to participate in the company through a combination of a fresh issue of shares and an offer for sale by existing shareholders.