Quick Overview of SS Retail IPO
The SS Retail IPO is a ₹500.00 crore mainboard book-built issue open from 16 to 18 September 2026 at ₹403–₹424 per share. Minimum retail application for SS Retail IPO is 35 shares (₹14,840).
Allotment of SS Retail IPO is on 21 September, with listing on BSE and NSE on 23 September 2026.
SS Retail IPO Details: Date, Price Band, Allotment Date
Here are the key SS Retail IPO details you'll need to track:
Particular | Detail |
|---|---|
Issue Size | ₹500.00 crore (1,18,10,182 shares) |
Offer Type | Book-built issue (fresh capital cum OFS) |
Fresh Issue | 85,08,298 shares — ₹360.00 crore |
Offer for Sale | 33,01,884 shares — ₹140.00 crore |
Face Value | ₹10 per equity share |
Price Band | ₹403 to ₹424 per share |
Lot Size | 35 shares |
Minimum Investment (Retail) | ₹14,840 |
Employee Reservation | Up to ₹12.00 crore |
Employee Discount | ₹25 per share |
Market Capitalisation (upper band) | ₹3,153.36 crore |
Pre-Issue Shareholding | 6,58,63,500 shares |
Post-Issue Shareholding | 7,43,71,798 shares |
Listing Exchanges | BSE, NSE |
About SS Retail Limited
SS Retail Limited, incorporated in June 2016, runs a multi-brand retail chain company for mobile phones, accessories, and electronic items across five states.
Key Highlights of this IPO:
Business Highlights | Key Details |
|---|---|
Incorporated | June 2016 |
Business | Mobile phones, pre-owned smartphones, accessories, televisions, laptops and tablets |
Retail Brands | SS Mobile, Mobile Exchange Wala, The Mobile Space |
Ancillary Services | Mobile protection plans, EMI facilities, anti-theft software, mobile recharge |
Store Count (31 Jul 2026) | 536 stores, 200+ cities, approx. 2,60,597 sq. ft. |
Maharashtra Presence | 458 of 503 stores |
States of Operation | Maharashtra, Karnataka, Madhya Pradesh, Goa, Gujarat |
City Mix | 17.89% (Tier II), 51.69% (Tier III and beyond) |
Store Formats | COCO, COFO and FOFO |
Market Position | Largest in West India and Maharashtra; third largest in India among peers |
Acquisition | 51.04% of Olineo Nexus India acquired in FY2026, adding 34 stores |
Team Strength | 689 permanent employees (as of 31 March 2026) |
Promoters | Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh, Bhavini Harshal Parekh |
Registered Office | Kolhapur, Maharashtra 416003 |
SS Retail IPO Reservation: Who Can Apply?
The SS Retail IPO has the following investor category reservation on the net offer:
Investor Category | Portion of Net Offer |
|---|---|
Qualified Institutional Buyers (QIB) | Not more than 50% |
Retail Individual Investors | Not less than 35% |
Non-Institutional Investors (NII) | Not less than 15% |
IPO Application limits by category:
Category | Limit | Cut-off bidding |
|---|---|---|
Retail Individual Investors | Up to ₹2 lakh | Yes |
Small NII (sNII) | ₹2 lakh to ₹10 lakh | No |
Big NII (bNII) | Above ₹10 lakh | No |
Eligible Employees | Up to ₹5 lakh | Yes |
SS Retail IPO Lot Size and Application Amounts
The SS Retail IPO minimum market lot is 35 shares with a ₹14,840 application amount.
Application | Lots | Shares | Amount |
|---|---|---|---|
Retail (Min) | 1 | 35 | ₹14,840 |
Retail (Max) | 13 | 455 | ₹1,92,920 |
S-HNI (Min) | 14 | 490 | ₹2,07,760 |
S-HNI (Max) | 67 | 2,345 | ₹9,94,280 |
B-HNI (Min) | 68 | 2,380 | ₹10,09,120 |
SS Retail IPO Timeline
The SS Retail IPO follows the standard T+3 listing schedule:
Event | Date |
|---|---|
Anchor Investor Bidding | 15 September 2026 |
IPO Opens | 16 September 2026 |
IPO Closes | 18 September 2026 |
UPI Mandate Deadline | 18 September 2026, 5:00 p.m. |
Basis of Allotment | 21 September 2026 |
Refunds / UPI Unblock | 22 September 2026 |
Credit to Demat Account | 22 September 2026 |
Listing on BSE & NSE | 23 September 2026 |
SS Retail IPO Issue Structure
The SS Retail IPO splits 72:28 between fresh issue and offer for sale.
Component | Shares | Amount (₹ crore) | Proceeds to |
|---|---|---|---|
Fresh Issue | 85,08,298 | 360.00 | The company |
Offer for Sale | 33,01,884 | 140.00 | Selling shareholders |
Total | 1,18,10,182 | 500.00 | — |
Five selling shareholders are participating — four promoters and one other:
Name | Category | Estimated Amount (₹ crore) |
|---|---|---|
Rakhi Narendra Firodia | Other | 70.00 |
Siddharth Gunvant Shah | Promoter | 45.00 |
Deepa Siddharth Shah | Promoter | 14.00 |
Harshal Kishor Parekh | Promoter | 8.00 |
Bhavini Harshal Parekh | Promoter | 3.00 |
Total | 140.00 |
The single largest seller is a non-promoter shareholder offering exactly half of the OFS.
Category | Pre-IPO |
|---|---|
Promoter and Promoter Group | 75.74% |
Public | 24.26% |
Total | 100% |
Use of SS Retail IPO Proceeds
SS Retail IPO proposes to utilise the net proceeds of the fresh issue towards:
# | Object | Amount (₹ crore) |
|---|---|---|
1 | Part funding of incremental working capital requirements | 241.30 |
2 | Capital expenditure for fit-outs towards new stores in Fiscal 2027 and 2028 | 12.40 |
3 | General corporate purposes | Balance |
Financial Performance of SS Retail
Here's the table outlining the financial performance of SS Retail Limited from FY 2024 to FY 2026.(Amount ₹ in crore)
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
Total Income | 2,352.85 | 1,599.96 | 1,208.04 |
EBITDA | 125.15 | 80.44 | 56.50 |
Profit After Tax | 59.28 | 39.86 | 26.65 |
Net Worth | 225.71 | 141.37 | 101.51 |
Reserves and Surplus | 159.59 | 128.18 | 88.52 |
Total Borrowing | 162.59 | 125.36 | 110.43 |
Assets | 575.42 | 389.44 | 278.25 |
Key Performance Indicators of SS Retail
Based on the financials available in the RHP, the following key performance metrics can be considered.
KPI | As of FY 2026 |
|---|---|
Return on Equity (ROE) | 30.60% |
Return on Capital Employed (ROCE) | 29.30% |
Return on Net Worth (RoNW) | 32.60% |
Debt / Equity | 0.70 |
EBITDA Margin | 5.32% |
PAT Margin | 2.52% |
Net Asset Value (NAV) | ₹34.33 |
Price to Book Value | 12.35 |
SS Retail IPO Valuation
At the upper price band of ₹424, the SS Retail IPO is valued as follows:
Valuation Metric | Pre-IPO | Post-IPO |
|---|---|---|
Earnings Per Share (EPS) | ₹9.00 | ₹7.97 |
P/E (x) | 47.11 | 53.20 |
Market Cap at Offer Price | ₹2,792.61 crore | ₹3,153.36 crore |
Strengths and Risks of SS Retail IPO
Every business has its strengths and risks, and SS Retail is no different. Here is a brief business analysis (as per RHP) below:
Strengths
- Regional market leadership: Largest mobile phone retail chain in West India and Maharashtra, third largest in India among peers.
- Exceptional return ratios: ROE of 30.60% and ROCE of 29.30% in FY2026.
- Rapid growth: Total income nearly doubled from ₹1,208.04 crore to ₹2,352.85 crore across three years.
- Capital-light expansion: COFO and FOFO formats scaled the network to 536 stores by 31 July 2026.
- Tier II and III positioning: 17.89% of stores in Tier II and 51.69% in Tier III and beyond.
Risks
- Demanding valuation at a post-issue P/E of 53.20 and price to book of 12.35, on 2.52% net margins.
- Maharashtra concentration, with 458 of 503 stores (roughly 91% of the network) in one state.
- Category and supplier dependence on mobile phone retail and on the top ten suppliers.
- Thin margins of 5.32% EBITDA and 2.52% PAT, leaving little absorption capacity.
- Reporting basis change, with FY2026 consolidated against standalone prior years, so reported growth is not like-for-like.
SS Retail IPO Allotment Status: How to Check?
SS Retail IPO allotment is expected to be finalised on 21 September 2026, checkable through three routes.
Registrar portal (KFin Technologies):
- Visit https://ipostatus.kfintech.com/
- Select "SS Retail Limited" from the IPO dropdown
- Choose PAN, Application Number, DP ID/Client ID or Bank Account Number/IFSC, and submit.
BSE:
- Visit https://bseindia.com/investors/appli_check.aspx
- Select Equity & Choose SS Retail Limited
- Enter Application Number or PAN & Complete the captcha.
NSE:
- Visit https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids, Open Equity and SME IPO Bid Details
- Select SS Retail Limited
- Enter Application Number and PAN.
If allotted, the blocked amount is debited and shares credited on 22 September. If not allotted, the ASBA lien is released and the full amount is available again by 22 September. Nothing is debited on an unallotted application.
Registrar of SS Retail IPO
The Registrar of SS Retail IPO is Kfin Technologies Ltd.
Phone: 040-79615565
Email: ssretail.ipo@kfintech.com
Allotment status: https://ipostatus.kfintech.com/
Lead Managers of SS Retail IPO
Anand Rathi Advisors Ltd. and Emkay Global Financial Services Ltd. are the book-running lead managers to the SS Retail IPO.
