Patel Retail Ltd., one of Maharashtra’s fast-growing retail chains, has launched its ₹242.76 crore IPO which opened on August 19, 2025. The issue has already witnessed strong demand, getting fully subscribed within hours of opening. Backed by rising investor confidence, the IPO is expected to generate healthy listing gains supported by a robust Grey Market Premium (GMP).
IPO Key Details
- IPO Opening Date: August 19, 2025
- IPO Closing Date: August 21, 2025
- Price Band: ₹237 – ₹255 per share
- Lot Size: 58 shares (₹14,790 minimum at upper band)
- Total Issue Size: ₹242.76 crore
- Fresh Issue: ~₹217 crore
- Offer For Sale (OFS): ~₹25 crore
- Allotment Date (Expected): August 22, 2025
- Listing Date (Tentative): August 26, 2025 (BSE & NSE)
- Anchor Book: Raised ₹43 crore on August 18, 2025
Company Background
- Founded: 2008 (first store in Ambernath, Maharashtra)
- Store Network: 43 outlets across Thane & Raigad
- Product Categories: 10,000+ SKUs across food, FMCG, apparel, and general merchandise
- Private Labels: Patel Fresh, Indian Chaska, Blue Nation, Patel Essentials
Patel Retail follows a cluster expansion model to dominate specific geographies like Thane, Raigad, and now Pune, ensuring operational efficiency.
Financial Performance (FY25)
- Revenue: ₹820 crore
- EBITDA: ₹57 crore (~7% margin)
- PAT (Profit After Tax): ₹25.3 crore (up from ₹22.5 crore YoY)
- Debt-to-Equity: Improved from 2.0× to 1.3×
- Valuation: P/E ~33.6× at upper price band
Objectives of the IPO
- Debt Repayment – ₹59 crore
- Working Capital Needs – ₹109–115 crore
- General Corporate Purposes – Balance
Subscription Status (Day 1)
- Overall: 3.5× – 4.5× oversubscribed
- QIBs: Up to 9×
- Non-Institutional Investors (NII): 4.4×
- Retail Investors: 3.2× – 3.8×
- Employees: 2.5×
Strong retail and institutional demand shows high investor confidence.
Market Impact & Investor Sentiment
The IPO has attracted strong retail interest as the brand is well-known in Maharashtra’s semi-urban and urban belts. Analysts, however, remain cautious due to regional concentration risk and valuation concerns. While listing gains are likely, long-term investors should track the company’s expansion outside MMR and Pune for sustainable growth.
What Should Traders Do?
- For Short-Term Traders: GMP suggests listing gains of 15–18%. Good for quick flip.
- For Long-Term Investors: Wait-and-watch; only invest if you believe in regional retail growth expansion.
- Risk Factors: Competition from D-Mart, Reliance Retail; high working capital cycle.
IPO Timeline Snapshot
| Event | Date |
|---|---|
| IPO Open | Aug 19, 2025 |
| IPO Close | Aug 21, 2025 |
| Allotment Date | Aug 22, 2025 |
| Refunds/UPI Mandate Rev | Aug 25, 2025 |
| Listing Date | Aug 26, 2025 |
Analyst Views
- Anand Rathi: “Subscribe – Long Term” (expansion-focused)
- Arihant Capital: Neutral (valuation concern)
- SBI Securities: Neutral; see modest listing gains but risks ahead
Conclusion
Patel Retail Ltd. IPO is one of the most buzzing issues of August 2025. With strong Day-1 subscription, healthy GMP, and robust retail brand recall, it looks set for a positive listing. However, valuation remains stretched, making it a good opportunity for short-term listing gains, while long-term investors should approach cautiously.
Subscription:
Patel Retail Ltd., one of Maharashtra’s fast-growing retail chains, has launched its ₹242.76 crore IPO which opened on August 19, 2025. The issue has already witnessed strong demand, getting fully subscribed within hours of opening. Backed by rising investor confidence, the IPO is expected to generate healthy listing gains supported by a robust Grey Market Premium (GMP).
IPO Key Details
- IPO Opening Date: August 19, 2025
- IPO Closing Date: August 21, 2025
- Price Band: ₹237 – ₹255 per share
- Lot Size: 58 shares (₹14,790 minimum at upper band)
- Total Issue Size: ₹242.76 crore
- Fresh Issue: ~₹217 crore
- Offer For Sale (OFS): ~₹25 crore
- Allotment Date (Expected): August 22, 2025
- Listing Date (Tentative): August 26, 2025 (BSE & NSE)
- Anchor Book: Raised ₹43 crore on August 18, 2025
Company Background
- Founded: 2008 (first store in Ambernath, Maharashtra)
- Store Network: 43 outlets across Thane & Raigad
- Product Categories: 10,000+ SKUs across food, FMCG, apparel, and general merchandise
- Private Labels: Patel Fresh, Indian Chaska, Blue Nation, Patel Essentials
Patel Retail follows a cluster expansion model to dominate specific geographies like Thane, Raigad, and now Pune, ensuring operational efficiency.
Financial Performance (FY25)
- Revenue: ₹820 crore
- EBITDA: ₹57 crore (~7% margin)
- PAT (Profit After Tax): ₹25.3 crore (up from ₹22.5 crore YoY)
- Debt-to-Equity: Improved from 2.0× to 1.3×
- Valuation: P/E ~33.6× at upper price band
Objectives of the IPO
- Debt Repayment – ₹59 crore
- Working Capital Needs – ₹109–115 crore
- General Corporate Purposes – Balance
Subscription Status (Day 1)
- Overall: 3.5× – 4.5× oversubscribed
- QIBs: Up to 9×
- Non-Institutional Investors (NII): 4.4×
- Retail Investors: 3.2× – 3.8×
- Employees: 2.5×
Strong retail and institutional demand shows high investor confidence.
Grey Market Premium (GMP)
- Current GMP: ₹38–₹46
- Expected Listing Price: ₹293–₹301 per share
- Indicates ~15–18% listing gains if momentum sustains.
Market Impact & Investor Sentiment
The IPO has attracted strong retail interest as the brand is well-known in Maharashtra’s semi-urban and urban belts. Analysts, however, remain cautious due to regional concentration risk and valuation concerns. While listing gains are likely, long-term investors should track the company’s expansion outside MMR and Pune for sustainable growth.
What Should Traders Do?
- For Short-Term Traders: GMP suggests listing gains of 15–18%. Good for quick flip.
- For Long-Term Investors: Wait-and-watch; only invest if you believe in regional retail growth expansion.
- Risk Factors: Competition from D-Mart, Reliance Retail; high working capital cycle.
IPO Timeline Snapshot
| Event | Date |
|---|---|
| IPO Open | Aug 19, 2025 |
| IPO Close | Aug 21, 2025 |
| Allotment Date | Aug 22, 2025 |
| Refunds/UPI Mandate Rev | Aug 25, 2025 |
| Listing Date | Aug 26, 2025 |
Analyst Views
- Anand Rathi: “Subscribe – Long Term” (expansion-focused)
- Arihant Capital: Neutral (valuation concern)
- SBI Securities: Neutral; see modest listing gains but risks ahead
Conclusion
Patel Retail Ltd. IPO is one of the most buzzing issues of August 2025. With strong Day-1 subscription, healthy GMP, and robust retail brand recall, it looks set for a positive listing. However, valuation remains stretched, making it a good opportunity for short-term listing gains, while long-term investors should approach cautiously.
Subscription
| Investor | 19 Aug 2025 | 20 Aug 2025 | 21 Aug 2025 |
|---|---|---|---|
| Anchor | 1 | 1 | |
| QIB | 9.86 | 17.14 | |
| Non-Institutional | 6.18 | 26.09 | |
| BNII | 6.09 | 22.09 | |
| SNII | 6.35 | 34.11 | |
| Retail | 4.46 | 16.60 | |
| Employees | 3.11 | 9.56 | |
| Total | 5.76 | 19.51 |
GMP Trend:
| Date | GMP |
|---|---|
| 19 Aug 2025 | ₹46 (18.04%) |
| 20 Aug 2025 | ₹49 (19.22%) |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
How to Check IPO Allotment Status:
Bigshare
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
NSE Website
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
BSE Webiste
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
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