GMP IPO Watch
SS Retail IPO
SS Retail IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
SS Retail IPO Details
Key facts at a glance| IPO Open Date | 15 September 2026 | IPO Close Date | 17 September 2026 |
|---|---|---|---|
| Basis of Allotment | 20 September 2026 | Listing Date | 22 September 2026 |
| Price Band | ₹403 - ₹424 per share | Face Value | ₹10 per share |
| Market Lot Size | 35 Shares | Min Investment (Retail) | ₹14,840 |
| Total Issue Size | ₹500 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹360 Cr | Offer for Sale (OFS) | ₹140 Cr |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | TBA | ||
SS Retail IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 15 September 2026 | Confirmed |
| IPO Close Date | 17 September 2026 | Confirmed |
| Basis of Allotment | 20 September 2026 | Tentative |
| Initiation of Refunds | 22 September 2026 | Tentative |
| Credit of Shares to Demat | 22 September 2026 | Tentative |
| IPO Listing Date | 22 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 18 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
SS Retail IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 35 Shares | ₹14,840 |
| Retail (Max) | 13 Lots | 455 Shares | ₹1,92,920 |
| S-HNI (Min) | 14 Lots | 490 Shares | ₹2,07,760 |
| S-HNI (Max) | 67 Lots | 2,345 Shares | ₹9,94,280 |
| B-HNI (Min) | 68 Lots | 2,380 Shares | ₹10,09,120 |
SS Retail IPO Live GMP & Movement History
Daily unofficial grey market trends₹160 +37.7%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 23 Sept 2026 | ₹160 | ₹584.00 | +37.74% |
| 22 Sept 2026 | ₹140 | ₹564.00 | +33.02% |
| 21 Sept 2026 | ₹147 | ₹571.00 | +34.67% |
| 19 Sept 2026 | ₹145 | ₹569.00 | +34.20% |
| 18 Sept 2026 | ₹142 | ₹566.00 | +33.49% |
| 17 Sept 2026 | ₹80 | ₹504.00 | +18.87% |
| 16 Sept 2026 | ₹128 | ₹552.00 | +30.19% |
| 14 Sept 2026 | ₹80 | ₹504.00 | +18.87% |
SS Retail IPO Subscription Status
Demand breakdown by investor categorySS Retail Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 (Standalone) | 278.25 Cr. | 1,208.04 Cr. | 1,172.83 Cr. | 26.65 Cr. |
| 2025 (Standalone) | 389.44 Cr. | 1,599.96 Cr. | 1,547.07 Cr. | 39.86 Cr. |
| 2026 (Consolidated) | 575.42 Cr. | 2,352.85 Cr. | 2,271.40 Cr. | 59.28 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
SS Retail IPO Valuation & KPIs
Key metrics pre-issueSS Retail Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| Aditya Vision Limited | 66.29 | 9.07 | 18.38% | 53.26 | 2671.62 Cr. |
| Electronics Mart India Limited | 62.66 | 2.78 | 6.81% | NA | 7183.26 Cr. |
| Jay Jalaram Technologies Limited | 14.41 | 8.59 | 13.74% | NA | 851.82 Cr. |
| Fonebox Retail Limited | 15.08 | 6.63 | 17.94% | 40.25 | 535.08 Cr. |
| Bhatia Communications & Retail (India) Limited | 24.44 | 1.31 | 15.16% | 10.33 | 591.43 Cr. |
| Umiya Mobile Limited | 8.46 | 7.09 | 29.32% | 46.31 | 836.10 Cr. |
About SS Retail
SS Retail Limited operates a multi-brand retail chain specializing in mobile phones, pre-owned smartphones, accessories, and other electronic items across five Indian states. The company generates revenue primarily through the retail and wholesale distribution of mobile phones, supplemented by sales of pre-owned smartphones under its Mobile Exchange Wala brand, accessories, and other electronics like televisions, laptops, and tablets. It also earns revenue from offering ancillary services, including mobile protection plans and software. Operating through three distinct retail formats—Company Owned Company Operated, Company Owned Franchisee Operated, and Franchisee Owned Franchisee Operated—the business sources products via direct arrangements with brands and authorized distributors. SS Retail Limited primarily targets consumers in tier II, tier III, and beyond cities, relying on a strategically organized supply chain and warehouse infrastructure to manage product distribution across its retail store network.
Key Strengths
- Established multi-brand retail presence across tier II and III markets.
- Scalable franchise-led retail store expansion model.
- Unique pre-owned smartphone business under ‘Mobile Exchange Wala’.
- Direct sourcing network with major brands and distributors.
- Experienced promoter leadership with deep domain expertise.
Key Risks
- Over-reliance on mobile phone sales for the majority of revenue.
- High procurement dependence on the top 10 suppliers.
- Significant revenue concentration within Maharashtra.
- Working capital-intensive operations with high inventory needs.
- Dependency on leased properties for store operations.
SS Retail IPO Reservation & Share Quotas
The SS Retail IPO reservation structure divides the offered shares among qualified institutional buyers, non-institutional investors and retail investors. The allocation percentages provide an overview of how the public issue is planned to be distributed across investor categories.
QIB investors, excluding the anchor portion, are allocated 50% of the shares offered, while NII investors receive 15% and retail investors receive 35%. The anchor investor allocation is shown separately in the issue reservation structure.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The share quantities for each investor category are currently shown as provided and can be updated once the final reservation details are available.
SS Retail IPO Anchor Investors
The SS Retail IPO anchor investor process is scheduled ahead of the public issue. Anchor investors are eligible institutional investors who may receive an allocation before the IPO opens for subscription.
The anchor bidding date is August 15, 2026. Details such as the final number of shares allocated and the total anchor allocation size can be updated after the anchor investor allotment is announced.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 15, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in End Date – 50% Shares (30 Days) | 2026 |
| Lock-in End Date – 50% Shares (90 Days) | 2026 |
Note: Anchor allocation, share quantity and lock-in dates can be updated once the final anchor investor details are officially disclosed.
SS Retail IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 16 Sept 2026 |
| IPO Close Date | 18 Sept 2026 |
| Basis of Allotment | 21 Sept 2026 |
| Refunds | 22 Sept 2026 |
| Credit to Demat Account | 22 Sept 2026 |
| IPO Listing Date | 23 Sept 2026 |
Note: The timeline for SS Retail IPO is tentative and subject to change.
SS Retail Promoters and Shareholding Pattern
The promoters of SS Retail are Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh and Bhavini Harshal Parekh. Together, the promoter and promoter group hold a significant stake in the company before the IPO.
Following the IPO, the promoter and promoter group holding is expected to reduce from 75.74% to 62.63%. At the same time, the shareholding of other shareholders increases to 37.37%, reflecting the dilution arising from the public issue.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 49,883,600 | 75.74% | 46,581,716 | 62.63% |
| Others* | 15,979,900 | 24.26% | 27,790,082 | 37.37% |
| Total | 65,863,500 | 100% | 74,371,798 | 100% |
Note: The holding pattern reflects the shareholding structure before and after the proposed SS Retail IPO.
SS Retail Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Funding capital expenditure for fit-outs towards setting up new stores | 12.45 (3.46%) |
| Part funding of the working capital requirements of the Company | 241.35 (67.04%) |
| General Corporate Purposes | 106.95 (29.5%) |
Note: Objectives are as specified in the DRHP/RHP documents of SS Retail.
SS Retail About the IPO
SS Retail, founded in June 2016, is a retail chain for mobile phones, accessories, and other electronic items. The firm sells its products under the brands ‘SS Mobile’, ‘Mobile Exchange Wala ’, and ‘The Mobile Space’ through both company-owned and franchise-operated store formats. Its product portfolio includes mobile phones, pre-owned smartphones, accessories, televisions, laptops and tablets, along with ancillary services such as mobile protection plans, EMI facilities, anti-theft software and mobile recharge services.
As of 2026, SS Retail has expanded to 536 stores across Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat, spanning approximately 2,60,597 sq. ft. Moreover, as of March 2026, SS Retail was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its competitors.
SS Retail Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 (Standalone) | 1,208.04 Cr. | 1,172.83 Cr. | 26.65 Cr. | 278.25 Cr. |
| 2025 (Standalone) | 1,599.96 Cr. | 1,547.07 Cr. | 39.86 Cr. | 389.44 Cr. |
| 2026 (Consolidated) | 2,352.85 Cr. | 2,271.40 Cr. | 59.28 Cr. | 575.42 Cr. |
Note: Financial numbers for SS Retail are in ₹ Crores unless stated otherwise.
SS Retail Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 30.60% |
| ROCE | 29.30% |
| EBITDA Margin | 5.32% |
| PAT Margin | 2.52% |
| Debt to Equity Ratio | 0.58 |
| Earning Per Share (EPS) | 9.11 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 32.60% |
| Net Asset Value (NAV) | 34.33 |
Note: Valuation KPIs for SS Retail are computed for FY2026.
SS Retail Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Aditya Vision Limited | 9.07 | 66.29 | 18.38% | 53.26 | 2671.62 Cr. |
| Electronics Mart India Limited | 2.78 | 62.66 | 6.81% | NA | 7183.26 Cr. |
| Jay Jalaram Technologies Limited | 8.59 | 14.41 | 13.74% | NA | 851.82 Cr. |
| Fonebox Retail Limited | 6.63 | 15.08 | 17.94% | 40.25 | 535.08 Cr. |
| Bhatia Communications & Retail (India) Limited | 1.31 | 24.44 | 15.16% | 10.33 | 591.43 Cr. |
| Umiya Mobile Limited | 7.09 | 8.46 | 29.32% | 46.31 | 836.10 Cr. |
Note: Peer group comparisons for SS Retail are sourced from DRHP filings.
SS Retail Lead Managers & Merchant Bankers
- Anand Rathi Advisors Ltd.
- Emkay Global Financial Services Ltd.
SS Retail IPO FAQs
SS Retail IPO opens for subscription on 15 September 2026 and closes on 17 September 2026.
The price band for SS Retail IPO is set at ₹403.00 to ₹424.00 per share.
The minimum market lot size is 35 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 35 Shares (₹14,840).
The latest Grey Market Premium (GMP) for SS Retail IPO is ₹160. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for SS Retail IPO is tentatively scheduled for 20 September 2026, and shares are expected to list on the stock exchanges on 22 September 2026.
The registrar details will be confirmed in the official prospectus.