SS Retail sets IPO price band at Rs 403–424 per share, seeks Rs 3,153-crore valuation

As per the latest business developments, Mobile phone and accessories multi-brand retail chain SS Retail on September 10 set the price range at Rs 403–424 per share for its upcoming Rs 500-crore IPO, implying a market capitalisation of Rs 3,153 crore.

The firm is raising up to Rs 360 crore through the issuance of fresh equity shares, while existing shareholders, including promoters, will sell shares worth Rs 140 crore through an offer-for-sale (OFS).

The IPO will open for public subscription on September 16 and close on September 18, while the anchor book for institutional market participants will open for a day on September 15.

The firm is likely to finalise the IPO share allotment by September 21, while its shares are anticipated to be available for trading on the bourses from September 23.

Market participants can bid for a minimum of 35 equity shares, with bids thereafter to be made in multiples of 35 shares. Accordingly, the minimum investment for retail market participants would be Rs 14,840, while the maximum would be Rs 1,92,920.

SS Retail has reserved shares worth up to Rs 12 crore for its employees. Eligible employees will receive the shares at a discount of Rs 25 per share to the final offer price.

The firm operates a multi-brand retail chain for mobile phones, accessories and other electronic items across five states—Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat—through 536 stores.

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It intends to utilise Rs 12.4 crore of the net fresh offering proceeds for fit-outs related to the setting up of 120 new stores in fiscal 2027 and fiscal 2028, Rs 241.3 crore for incremental working capital requirements, and the remaining amount for general corporate purposes.

"Out of these 120 stores, we intend to open 57 new stores in fiscal 2027 and 58 new stores in fiscal 2028 by utilising the net proceeds up to Rs 5.81 crore and Rs 6.6 crore, respectively," SS Retail stated in its RHP.

On the financial front, the firm noted consolidated earnings of Rs 59.8 crore and topline of Rs 2,351 crore for the year ended March 2026.

Anand Rathi Advisors and Emkay Global Financial Services are acting as the merchant bankers for the SS Retail IPO.