Patel Retail IPO GMP: Supermarket Chain’s Issue Subscribed Over 5 Times So Far On Day 1

Patel Retail IPO (Patel Retail Ltd) subscription window opened on August 19. The mainboard issue has been booked over 5 times across categories at the time of writing the story on the first day of subscription. The supermarket chain’s issue has received bids for over 43.45 million shares so far, compared to the 7.81 million shares offered for subscription.

The supermarket chain operator’s issue has been booked over 4 per cent in the retail individual investors category so far. Retail investors applied for over 18.3 shares compared to the 4.26 million shares reserved for the category.

Non-Institutional Investors (NIIs) applied for over 13.79 crore shares against the 2.36 million shares set aside for them. The supermarket chain operator’s issue was booked at 5.83 per cent in the NII category. Qualified Institutional Buyers (QIBs) applied for 11.2 million shares of the supermarket chain operator on the first day of bidding against the 1.13 million shares set aside for the category and booked the issue at 9.86 per cent. Employees of the Patel Retail IPO oversubscribed their quota 2.84 times by applying for 1,44,594 shares compared to 51,000 shares reserved for them.

Patel Retail IPO GMP

The grey market premium for Patel Retail shares is Rs 46, according to the Investorgain website. Given the GMP of Rs 46, the stock is likely to make a strong debut with a premium of over 18 per cent at Rs 301 per share.

Patel Retail IPO: Offer Size and Price Band

Patel Retail IPO is worth Rs 242.76 crore. It comprises a fresh issuance of 8.5 million shares, worth Rs 217.21 crore. The issue also has an offer-for-sale component of 1 million shares, worth Rs 25.55 crore. The price band for the Patel Retail IPO was set at Rs 237 to Rs 255 per share.

Patel Retail IPO: Lot Size and Minimum Investment

Retail investors interested in applying for the Patel Retail IPO can place bids for a minimum of 58 shares, aggregating to an investment of Rs 14,790. The minimum lot size for Small Non-Institutional Investors (SNIIs) interested in applying for the Patel Retail IPO is 14 lots or 812 shares, amounting to an investment of Rs 2,07,060.

Patel Retail IPO: Subscription window, listing date, allotment date

Patel Retail IPO bidding window opened on August 19. Patel Retail IPO bidding window is scheduled to close on August 21. The basis of allotment of Patel Retail IPO will be decided on August 22.

After the basis of allotment for Patel Retail IPO is decided the supermarket chain will initiate refunds for unsuccessful applicants on August 25. Successful bidders will receive shares of Patel Retail in their demat accounts on August 25 as well. Patel Retail’s shares will make their D-street debut on the NSE and BSE. The tentative listing date for Patel Retail Limited’s shares is August 26.

Patel Retail: Key Financials

Patel Retail’s total income for FY25 stood at Rs 825.99 crore, increasing by over 1 per cent from Rs 817.71 crore in FY24. The supermarket chain’s profit after tax increased by over 12 per cent to Rs 25.28 crore in FY25 compared to Rs 22.53 crore in the preceding fiscal. The supermarket chain’s net worth increased by over 42 per cent to Rs 134.57 crore in FY25 compared to Rs 94.4 crore in FY24.

Patel Retail IPO: Registrar

Patel Retail IPO book running lead manager is Fedex Securities Pvt Ltd and the registrar for the issue is Bigshare Services Pvt Ltd.

Patel Retail: Promoters

Promoters of Patel Retail include Dhanji Raghavji Patel, Bechar Raghavji Patel, Hiren Bechar Patel and Rahul Dhanji Patel. The promoters of the supermarket chain hold 97.99 per cent stake in the company prior to the issue and their stake will reduce to 70.01 per cent after the conclusion of the issue.

Patel Retail IPO: Objective

Patel Retail plans to use the money raised via the public issue for repayment or prepayment of certain borrowings and funding working capital requirements. Additionally the funds will also be used by the supermarket chain for general corporate purposes.

About Patel Retail Ltd

Patel Retail Ltd commenced its operations in 2008. The company has a supermarket chain through which it sells products in tier-III cities. The company retails a diverse range of products such as food, non-food (FMCG), general merchandise, and apparel.