MUMBAI, 11 AUGUST, 2025 (GPN): Retail supermarket chain, Patel Retail Limited today on August 11, announced the price band for its upcoming initial public offering (IPO) at Rs. 237 to Rs. 255 per Equity share.
The issue, set to open for subscription next week on August 19, will close on August 21. Patel Retail IPO is a mix of fresh share sale of 217.21 crore and an offer for sale of Rs. 25.55 crore, with the company looking to raise nearly Rs 243 crore via the initial share sale.
Patel Retail IPO lot size has been set at 58 shares. Retail investors can apply for one lot of the issue for a minimum investment amount of Rs. 13,746.
Dhanji Raghavji Patel, Bechar Raghavji Patel, Hiren Bechar Patel and Rahul Dhanji Patel are the company promoters.
Incorporated in 2008, Patel Retail, which operates and manages 43 stores of a retail supermarket chain under the brand Patel’s R Mart in the suburban area of Thane and Raigad in Maharashtra.
The company plans to use the fresh proceeds from the IPO for repayment/prepayment, in full or part, of certain borrowings availed, further, Rs 115 crore will be used for its working capital requirements, and the remainder funds for general corporate purposes.
Fedex Securities is the book-running lead manager (BRLMs) of the Patel Retail IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Shares of Patel Retail IPO are slated to list on the BSE and National Stock Exchange (NSE), with the tentative listing date set as August 26.
The grey market premium (GMP) trend for Patel Retail was decent on Monday. Patel Retail IPO GMP stood at Rs. 20. This means the company shares are trading at a premium of Rs. 20 over the upper end of the price band at Rs. 275 in the grey market.
At the prevailing GMP and issue price, Patel Retail IPO shares could list at an 8% premium.
Patel Retail operates as a retail supermarket chain in tier-III cities and nearby suburban areas, with a focus on “value retail”, offering food, non-food (FMCG), general merchandise and apparel catering to the needs of the entire family.The company opened its first store under the brand name “Patel’s R Mart” in Ambernath, Maharashtra, and Also 42 Stores in Strategic locations.The company opened its 2nd Facility in Dudhai, Kutch, Gujarat and thereafter Facility 3 Agri-Processing Cluster again in Gujarat known as the Kutch Facilities.The details of which is given in the RHP.
To enhance margins and brand recognition, Patel Retail Limited has launched private label products such as “Patel Fresh” (pulses and ready-to-cook items), “Indian Chaska” (spices, ghee, and papad), “Blue Nation” (men’s wear), and “Patel Essentials” (home improvement items).
As on May 31, 2025, the company operates and manages 43 stores, with a Retail Business Area of approximately. 1,78,946 sq.fts. Profit in the fiscal 2025 grew by 12.18 percent to Rs 25.3 crore, and revenue increased by 0.8 percent to Rs 820.7 crore compared to the previous year.
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