Patel Retail IPO
Patel Retail IPO — date, price band, lot size & details 2025
Patel Retail listed on 26 Aug 2025 at ₹300, 17.6% above the ₹255 issue price.
Patel Retail runs a supermarket chain under the Patel's R Mart brand, mainly in tier-III cities and suburbs. It operated 43 stores in Thane and Raigad districts on 31 May 2025.
Stock price
Patel Retail is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 19 Aug 2025
- Close 21 Aug 2025
- Allotment 22 Aug 2025
- Refund/credit 25 Aug 2025
- Listing 26 Aug 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 19 to 21 Aug, 2025 |
|---|---|
| Price Band | ₹237 – ₹255 |
| Face Value | ₹10 |
| Lot Size | 58 Shares |
| Issue Size | ₹242.66 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 20.00 per share |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,790 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 58 shares at the ₹255 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 58 | ₹14,790 |
| Retail (max) | 13 | 754 | ₹1,92,270 |
| S-HNI (min) | 14 | 812 | ₹2,07,060 |
| S-HNI (max) | 67 | 3,886 | ₹9,90,930 |
| B-HNI (min) | 68 | 3,944 | ₹10,05,720 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 16.38 crore in FY2023 to Rs 25.28 crore in FY2025.
- 02The company operated 43 stores with about 1,78,946 square feet of retail area on 31 May 2025.
- 03Rs 217.12 crore of the Rs 242.66 crore issue was fresh capital.
- 04Rs 59.00 crore of the proceeds was for repaying debt.
- 05Return on equity was 19.02% and return on capital employed was 14.43%.
Risks · 7
- 01Total income fell from Rs 1,019.80 crore in FY2023 to Rs 817.71 crore in FY2024, and was Rs 825.99 crore in FY2025.
- 02The PAT margin was thin at 3.08%.
- 03Total borrowing of Rs 180.54 crore on 31 March 2025 was above net worth of Rs 134.57 crore.
- 04Debt to equity was 1.34 on the figures at the source.
- 05All 43 stores were in suburban Thane and Raigad, so the business is concentrated in one region.
- 06The P/E was 33.69 at the upper band of Rs 255, based on post-issue EPS of Rs 7.57.
- 07Promoters held 97.99% before the issue and held 70.01% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Patel Retail offer document.
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 382.86 | 333.02 | 303.12 |
| Total Income | 825.99 | 817.71 | 1,019.80 |
| Profit After Tax | 25.28 | 22.53 | 16.38 |
| EBITDA | 62.43 | 55.84 | 43.24 |
| NET Worth | 134.57 | 94.40 | 71.87 |
| Total Borrowing | 180.54 | 185.75 | 182.81 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Patel Retail RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Patel Retail IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.16 | ₹7.57 |
| P/E Ratio (x) | 25.10 | 33.69 |
| Market Cap at Offer Price (₹ Cr) | ₹634.49 | ₹851.57 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹255 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹220.24 Cr of the issue is earmarked to named objects.
Patel Retail IPO Anchor Investors
6 anchor investors across 6 fund houses committed ₹43.46 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Maybank Securities Pte.ltd.-Odi | Maybank | 235,306 | 6.00 | 13.81% |
| Beacon Stone Capital Vcc - Beacon Stone I | Beacon Stone Capital | 235,306 | 6.00 | 13.81% |
| BNP Paribas Financial Markets-Odi | BNP Paribas | 393,240 | 10.03 | 23.07% |
| Chanakya Opportunities Fund I | Chanakya | 448,340 | 11.43 | 26.31% |
| Saint Capital Fund | Saint Capital | 196,098 | 5.00 | 11.51% |
| Pine Oak Global Fund | Pine Oak | 196,098 | 5.00 | 11.51% |
| Total anchor allocation | 43.46 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The first store under the Patel's R Mart brand opened in Ambernath, Maharashtra. On 31 May 2025 the company ran 43 stores across suburban Thane and Raigad, with retail area of about 1,78,946 square feet.
Private labels include Patel Fresh for pulses and ready-to-cook items, Indian Chaska for spices, Blue Nation for menswear and Patel Essentials for home improvement.
The IPO was Rs 242.66 crore, with Rs 217.12 crore of fresh issue and Rs 25.54 crore of offer for sale. Rs 109.00 crore was planned for working capital and Rs 59.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Patel Retail IPO Documents
Read the filings this page is built from.
Company contact
Frequently asked
What is the GMP of Patel Retail?
The current Grey Market Premium is ₹50, or 20% over the issue price.
What is the Patel Retail IPO price band?
₹237 to ₹255, on a face value of ₹10.
When is the allotment?
The basis of allotment is 22 August 2025, with listing on 26 August 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
