Patel Retail IPO opens tomorrow: GMP, issue details, 10 key things to know

Mint

12 hours ago

Patel Retail IPO opens for subscription on tomorrow (Tuesday, August 19). Patel Retail was founded in 2008, opening its first store in Ambernath, Maharashtra. Since that time, the company has broadened its reach across the suburban areas of Thane and the Raigad district in Maharashtra.
The business offers a wide variety of products, including food, non-food items, general merchandise, and clothing, catering to the needs of families. It functions in tier-III cities and adjacent suburban locations under the 'Patel's R Mart' brand. As of May 31, 2025, it operated and managed 43 stores.
Patel Retail's operational revenue rose to ₹ 820.69 crore in the fiscal year 2025, compared to ₹ 814.19 crore in the previous financial year. The profit after tax increased to ₹ 25.28 crore.
As per the red herring prospectus (RHP), the company's listed peers are Vishal Mega Mart (with a P/E of 104.73), Avenue Supermarts (with a P/E of 102.33), Spencers Retail, Osia Hyper Retail (with a P/E of 8.73) , Aditya Consumer Marketing, Sheetal Universal (with a P/E of 15.58), Kovilpatti Lakshmi Roller Flour Mills (with a P/E of 101.61), KN Agri Resources (with a P/E of 17.01), and Madhusudhan Masala (with a P/E of 12.92).
Patel Retail IPO date: The issue opens for subscription on Tuesday, August 19, and closes on Thursday, August 21.
Patel Retail IPO price band: The issue's price band has been fixed in the range of ₹ 237 to ₹ 255 per equity share of face value of ₹ 10.
Patel Retail IPO lot size: The issue's lot size is 58 equity shares and in multiples of 58 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Patel Retail IPO is scheduled to take place today (Monday, August 18).
Patel Retail IPO details: The initial public offering consists of a fresh issue of up to 8,520,000 equity shares and an offer for sale of up to 1,002,000 equity shares by selling shareholders who are promoters.
Patel Retail IPO objective: The funds raised from the fresh issue, amounting to ₹ 59 crore, will be used to repay or prepay, either partially or fully, certain borrowings made by the company; ₹ 115 crore will go towards meeting the company's working capital needs; and the remaining will be for general corporate purposes.
Patel Retail IPO listing date and allotment details: Tentatively, Patel Retail IPO basis of allotment of shares will be finalised on Friday, August 22 and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Monday, August 25. Patel Retail IPO shares are likely to be listed on BSE and NSE on Tuesday, August 26.
Lead Manager and Registrar of Patel Retail IPO: Fedex Securities Private Limited serves as the sole book-running lead manager, while Bigshare Services Private Limited is the registrar for the offer.
Patel Retail IPO reservation: The offer is conducted through a book-building process, 30% of the net issue will be allocated on a proportionate basis to qualified institutional buyers, 25% of the offering will be reserved for non-institutional investors, and 45% will be designated for retail individual investors.
Patel Retail IPO GMP today: Patel Retail IPO grey market premium is +37.5. This indicates Patel Retail share price were trading at a premium of ₹ 37.5 in the grey market on Monday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Patel Retail share price was indicated at ₹ 292.5 apiece, which is 14.71% higher than the IPO price of ₹ 255.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.