SS Retail Limited
IPO Details
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₹160(37.74%)
Premium (ELP)
SS Retail Limited's successfully completed its Initial Public Offering and commenced trading on Sep 23, 2026 at the NSE, BSE exchange. The company raised 1,18,10,183 Shares through this public offering, comprising 85,08,298 Shares in fresh capital and ₹140.00 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹403 to ₹424, with minimum application lots of 35 shares. The offering attracted significant investor interest during its subscription period from Sep 16, 2026 to Sep 18, 2026.
Share allotment was finalized on Sep 21, 2026, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
SS Retail Ltd is a multi-brand retail company engaged in selling mobile phones, accessories, and electronic products through an extensive offline store network across Maharashtra, Karnataka, Madhya Pradesh, and Goa, with a strong presence in Tier II and Tier III markets. The company operates under a mix of COCO, COFO, and FOFO models and manages a rapidly expanding retail footprint, growing from 181 stores in 2023 to 347 stores in FY2025 and further to 451 stores by November 2025. It runs multiple retail formats under brands like SS Mobile, xchange Wala (focused on refurbished phones), and The Mobile Space to expand reach and customer engagement. With strong store efficiency and high sales per square foot, SS Retail has established itself as one of the largest mobile retail chains in West India, supported by its wide geographic presence, diversified formats, and fast-paced expansion strategy.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Large & Expanding Store Network: SS Retail has a growing retail presence across multiple states and cities, with 536 stores as of July 31, 2026. This wide network helps the company reach customers across different regional markets.
- Scalable Retail Model: The company operates through COCO, COFO and FOFO formats, combining company-owned and franchisee-led stores. This flexible model supports faster expansion and access to new markets.
- Strong Tier II & Tier III Presence: The company has a strong presence in Tier II, Tier III and smaller cities, allowing it to reach customers beyond major metropolitan areas and benefit from growing demand in regional markets.
- Dependence on Mobile Phone Sales: Mobile phone sales contributed 86.18%, 87.58% and 88.31% of revenue in FY2026, FY2025 and FY2024, respectively. Any slowdown in the mobile phone market or lower consumer spending could negatively affect the company’s revenue and financial performance.
- Working Capital Intensive Business: The company requires significant working capital, mainly to maintain inventory across its stores and warehouses. It plans to use ₹2,413.47 million from the Net Proceeds for working capital needs in FY2027 and FY2028. Poor management or lack of sufficient funds could affect business operations and financial condition.
- Independent Director – Securities Law Exposure: Independent Director Asit Chimanlal Mehta is associated with entities linked to the securities market and may face strict regulatory requirements. Any non-compliance could lead to legal proceedings or adverse orders, which may indirectly affect the company’s reputation and business prospects.
- Siddharth Gunvant Shah
- Deepa Siddharth Shah
- Harshal Kishor Parekh
- Bhavini Harshal Parekh
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