SS Retail IPO is structured as a book-built issue aiming to raise a total of ₹500.00 crores from the primary capital markets. The public offering comprises a fresh issue of 85.08 lakh shares aggregating up to ₹360.00 crores, alongside an offer for sale (OFS) of 33.02 lakh shares aggregating up to ₹140.00 crores. Investors looking for comprehensive primary market intelligence, live subscription data, and grey market updates can rely entirely on ipoind.com for real-time synchronization.
Price Band
₹403 to ₹424 per share
Lot Size & Min Investment
35 Shares (Min ₹14,840)
Bidding Dates
16 Sep – 18 Sep, 2026
Tentative Listing Date
Wed, Sep 23, 2026
1. SS Retail IPO Timetable & Schedule (Tentative Roadmap)
The formal timeline for the book-built public issue outlines key milestones from bidding opening through final exchange listing. Retail and institutional participants must complete mandatory UPI mandate authorizations prior to the closing deadline:
| Milestone Event |
Calendar Date |
| IPO Opening Date |
Wed, Sep 16, 2026 |
| IPO Closing Date |
Fri, Sep 18, 2026 |
| Basis of Allotment Finalization |
Mon, Sep 21, 2026 |
| Initiation of Refunds & Demat Credit |
Tue, Sep 22, 2026 |
| Listing Date (BSE & NSE) |
Wed, Sep 23, 2026 |
2. Issue Structure, Lot Sizes & Investor Quotas
Bidding parameters are structured to accommodate different tiers of market participants. Investors can apply for a minimum of 35 equity shares and in multiples thereof. The category-wise reservation breakdown is governed by regulatory compliance standards:
- Qualified Institutional Buyers (QIB): Not more than 50% of the net offer size is allocated to institutional funds, foreign portfolio investors, and domestic financial institutions.
- Retail Individual Investors (RII): At least 35% of the net issue is reserved for retail applicants bidding up to ₹2,00,000, with mandatory cut-off price option enabled.
- Non-Institutional Investors (NII / HNI): Not less than 15% of the net offer is designated for high-net-worth participants, subdivided into Small HNIs (sNII) and Big HNIs (bNII).
- Employee Reservation: Eligible employees receive a special discount of ₹25.00 per share across allocations up to ₹5 Lakhs.
Retail and HNI Application Slabs
| Application Type |
Lots |
Shares |
Total Amount (₹) |
| Retail (Min) |
1 |
35 |
₹14,840 |
| Retail (Max) |
13 |
455 |
₹1,92,920 |
| Small HNI (Min) |
14 |
490 |
₹2,07,760 |
| Big HNI (Min) |
68 |
2,380 |
₹10,09,120 |
3. Corporate Background & Business Model of SS Retail Ltd.
Incorporated in June 2016, SS Retail Ltd. has grown into a prominent multi-brand retail chain specializing in mobile phones, digital accessories, home appliances, and various electronic gadgets. Operating extensively across Maharashtra, Karnataka, Madhya Pradesh, Goa, and Gujarat, the enterprise places strategic emphasis on underpenetrated Tier II and Tier III cities. As of July 31, 2026, the company’s operational store network expanded to an impressive 536 stores covering approximately 2,60,597 square feet.
The company markets its retail experience through proprietary brand names such as ‘SS Mobile’, ‘Mobile Exchange Wala’, and ‘The Mobile Space’. By utilizing a flexible, scalable store model combining Company-Owned Company-Operated (COCO), Company-Owned Franchisee-Operated (COFO), and Franchisee-Owned Franchisee-Operated (FOFO) frameworks, SS Retail deepens regional market penetration. Furthermore, during Fiscal 2026, the acquisition of a 51.04% equity stake in Olineo Nexus India Private Limited added 34 stores to its expanding portfolio. According to industry tracking reports, SS Retail stood as the largest mobile phone retail chain in West India and Maharashtra, and the third largest nationwide among its peer group as of March 31, 2026.
Key Competitive Strengths
- Expansive and densely populated retail store network across western and central Indian states.
- Highly scalable retail store formats (COCO, COFO, FOFO) driving asset-light regional expansion.
- Dominant market positioning in Tier II and Tier III semi-urban centers.
- Comprehensive product ecosystem featuring smartphones, pre-owned certified devices, warranties, and consumer financing alliances.
4. Restated Consolidated Financial Performance
A robust financial trajectory underscores the company’s operating scale. Between Fiscal 2025 and Fiscal 2026, total income and net profitability exhibited exceptional double-digit compounding growth:
| Financial Metric (₹ Cr) |
FY 2026 |
FY 2025 |
FY 2024 |
| Total Assets |
575.42 |
389.44 |
278.25 |
| Total Income |
2,352.85 |
1,599.96 |
1,208.04 |
| Profit After Tax (PAT) |
59.28 |
39.86 |
26.65 |
| EBITDA |
125.15 |
80.44 |
56.50 |
| Net Worth |
225.71 |
141.37 |
101.51 |
| Total Borrowing |
162.59 |
125.36 |
110.43 |
* Note: Financial figures for Fiscal 2026 are presented on a consolidated basis.
5. Objectives of the Net Proceeds
The company intends to channelize fresh issue proceeds into strategic growth initiatives designed to enhance retail density and working capital fluidity:
- Store Expansion Fit-Outs: Funding capital expenditure for interior fit-outs toward establishing new retail stores across Fiscals 2027 and 2028 (Estimated allocation: ₹12.45 Cr).
- Working Capital Support: Part funding of incremental operational working capital requirements to sustain rapid retail inventory scale-up (Estimated allocation: ₹416.53 Cr).
- General Corporate Purposes: Supporting general administrative expenses, brand building, and corporate contingencies.
6. Key Performance Indicators (KPIs) & Valuation Ratios
Operational Return Metrics
Return on Equity (ROE): 30.60%
Return on Capital Employed (ROCE): 29.30%
Return on Net Worth (RoNW): 32.60%
Debt-to-Equity Ratio: 0.70
Valuation & Margins
PAT Margin: 2.52% | EBITDA Margin: 5.32%
Diluted EPS (Post-Issue): ₹7.97
Price-to-Earnings (P/E Multiple): 53.2x
Post-Issue Market Capitalization: ₹3,153.36 Cr
7. Corporate Promoters, Advisors & Registrar Contact
Promoter Group: Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh, and Bhavini Harshal Parekh.
Book Running Lead Managers: Anand Rathi Advisors Ltd. and Emkay Global Financial Services Ltd.
Registrar to the Issue: Kfin Technologies Ltd. (Contact: 040-79615565 | Email: ssretail.ipo@kfintech.com).
Official Platform Tracking: All primary market updates, subscription multiples, and registrar links are continuously verified and updated on ipoind.com.
