SS Retail IPO
SS Retail IPO is a mainboard book-building public issue with a total issue size of approximately ₹500 crore.
The issue comprises a fresh issue of approximately 85.08 lakh equity shares aggregating to around ₹360 crore and an offer for sale of approximately 33.02 lakh shares worth around ₹140 crore.
The IPO will open for subscription on 16 September 2026 and close on 18 September 2026. The shares are proposed to be listed on both NSE and BSE.
SS Retail IPO Details
SS Retail Limited is launching a ₹500 crore mainboard IPO. The issue combines a fresh issue of shares with an offer for sale by existing shareholders.
The fresh issue comprises approximately 85.08 lakh shares aggregating to around ₹360 crore. The offer for sale consists of approximately 33.02 lakh shares valued at around ₹140 crore.
The IPO price band has been fixed at ₹403 to ₹424 per share. Investors can apply for a minimum of 35 shares and thereafter in multiples of the specified lot size.
At the upper price band of ₹424 per share, a retail investor needs ₹14,840 to apply for one lot.
SS Retail IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | 16 September 2026 |
| IPO Close Date | 18 September 2026 |
| IPO Size | ₹500 Crore |
| Price Band | ₹403 to ₹424 per share |
| Face Value | ₹10 per share |
| Lot Size | 35 Shares |
| Issue Type | Book Building |
| Issue Structure | Fresh Issue + Offer for Sale |
| Listing Exchange | NSE and BSE |
| Market Cap at Upper Band | ₹3,153.36 Crore |
| Expected Allotment | 21 September 2026 |
| Refund / Unblocking | 22 September 2026 |
| Demat Credit | 22 September 2026 |
| Tentative Listing Date | 23 September 2026 |
| Employee Discount | ₹25 per share |
SS Retail IPO Issue Size
| Issue Component | Shares | Approx. Amount |
|---|---|---|
| Total Issue | 1,18,10,182 | Up to ₹500 Cr |
| Fresh Issue | 85,08,298 | Up to ₹360 Cr |
| Offer for Sale | 33,01,884 | Up to ₹140 Cr |
SS Retail IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Wednesday, 16 September 2026 |
| IPO Closes | Friday, 18 September 2026 |
| Allotment | Monday, 21 September 2026 |
| Refund / Unblocking | Tuesday, 22 September 2026 |
| Shares Credited to Demat | Tuesday, 22 September 2026 |
| Listing | Wednesday, 23 September 2026 |
SS Retail IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% of the Net Offer |
| Retail Individual Investors | Not less than 35% of the Net Issue |
| Non-Institutional Investors (NII) | Not less than 15% of the Net Offer |
SS Retail IPO Lot Size
Investors can bid for a minimum of 35 shares and thereafter in multiples of 35 shares.
| Investor Category | Lots | Shares | Investment at ₹424 |
|---|---|---|---|
| Retail Minimum | 1 | 35 | ₹14,840 |
| Retail Maximum | 13 | 455 | ₹1,92,920 |
| S-HNI Minimum | 14 | 490 | ₹2,07,760 |
| S-HNI Maximum | 67 | 2,345 | ₹9,94,280 |
| B-HNI Minimum | 68 | 2,380 | ₹10,09,120 |
About SS Retail Ltd.
Incorporated in June 2016, SS Retail Limited is a multi-brand retail chain focused on mobile phones, accessories and other electronic products. The company primarily operates in Tier II, Tier III and beyond cities.
As of March 31, 2026, SS Retail operated 503 stores across 215 cities, covering approximately 2,41,365 sq. ft. of retail space. By July 31, 2026, its network had expanded to 536 stores covering approximately 2,60,597 sq. ft..
The company operates through its proprietary brands SS Mobile, Mobile Exchange Wala and The Mobile Space. Its product portfolio includes mobile phones, pre-owned smartphones, accessories, televisions, laptops and tablets.
SS Retail also provides ancillary services including mobile protection plans, EMI facilities, anti-theft software and mobile recharge services.
The company follows a scalable retail model comprising COCO, COFO and FOFO store formats and uses local franchisee partnerships to expand its regional presence.
During FY2026, the company acquired a 51.04% stake in Olineo Nexus India Private Limited, adding 34 stores to its retail network.
According to the cited industry report, SS Retail was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its peers as of March 31, 2026.
SS Retail Business Strengths
- Large and rapidly expanding retail store network across multiple Indian cities.
- Scalable COCO, COFO and FOFO business models.
- Strong presence in Tier II, Tier III and beyond cities.
- Wide product portfolio covering smartphones, electronics, accessories and related services.
- Established brands including SS Mobile, Mobile Exchange Wala and The Mobile Space.
- Local franchisee partnerships help the company expand into regional markets.
- Strong customer reach through a growing multi-city retail network.
- Experienced promoter and management team with retail-sector expertise.
SS Retail Financial Performance
SS Retail has reported strong growth in its business during the recent financial years. Total income increased to ₹2,352.85 crore in FY2026 from ₹1,599.96 crore in FY2025, while profit after tax increased to ₹59.28 crore from ₹39.86 crore.
| Particulars (₹ Crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| 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 |
| Total Borrowings | 162.59 | 125.36 | 110.43 |
| Assets | 575.42 | 389.44 | 278.25 |
Note: The financial statements for FY2026 are consolidated.
SS Retail IPO Key Performance Indicators
| KPI | 31 March 2026 |
|---|---|
| ROE | 30.60% |
| ROCE | 29.30% |
| Debt/Equity | 0.70 |
| RoNW | 32.60% |
| PAT Margin | 2.52% |
| EBITDA Margin | 5.32% |
| NAV | ₹34.33 |
| Price to Book Value | 12.35x |
SS Retail IPO Valuation
At the upper IPO price of ₹424 per share, SS Retail’s post-issue market capitalization is estimated at approximately ₹3,153.36 crore.
Based on the reported FY2026 figures, the IPO is being offered at a post-issue P/E multiple of approximately 53.2x.
| Valuation Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | ₹9.00 | ₹7.97 |
| P/E | 47.11x | 53.2x |
| Market Capitalisation | ₹2,792.61 Cr | ₹3,153.36 Cr |
SS Retail Shareholding Pattern
| Category | Pre-IPO |
|---|---|
| Promoter & Promoter Group | 75.74% |
| Public | 24.26% |
| Total | 100% |
Company Promoters: Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh and Bhavini Harshal Parekh.
SS Retail IPO Offer for Sale
The offer for sale component consists of approximately 33.02 lakh shares offered by existing shareholders. The proceeds from the OFS will be received by the respective selling shareholders and will not form part of the company’s fresh capital.
| Selling Shareholder | Category | Estimated Amount |
|---|---|---|
| Siddharth Gunvant Shah | Promoter | ₹45 Cr |
| Deepa Siddharth Shah | Promoter | ₹14 Cr |
| Harshal Kishor Parekh | Promoter | ₹8 Cr |
| Bhavini Harshal Parekh | Promoter | ₹3 Cr |
| Rakhi Narendra Firodia | Other | ₹70 Cr |
| Total OFS | ₹140 Cr |
SS Retail IPO Registrar & Lead Managers
IPO Registrar: Kfin Technologies Ltd.
Book Running Lead Managers:
- Anand Rathi Advisors Ltd.
- Emkay Global Financial Services Ltd.
SS Retail Ltd. Contact Details
Registered Office:
399, E, Basant Bahar Road,
Ratikmal Complex,
Shop 6-7,
Kolhapur, Maharashtra – 416003
Phone: +91 90961 91222
Email: compliance@ssmobile.com
SS Retail IPO Quick Summary
Disclaimer
This IPO information is provided for educational and informational purposes only. Investing in an IPO involves market risk, and past financial performance should not be considered a guarantee of future returns. Investors should carefully read the company’s RHP, financial statements and other official disclosures before making any investment decision. TradingMinds does not provide investment advice or guarantee IPO listing gains.
