Q1. What is the business of SS Retail Limited ?

It is a fast-growing multi-brand mobile and electronics retail chain selling phones, accessories, pre-owned phones and gadgets across Tier II/III and urban markets in India.

Q2. Why is the company raising funds via IPO?

SS Retail is raising funds via IPO to expand its store footprint, strengthen working capital and support general corporate purposes for future growth.

Q3. What is the size of the issue and where will it list?

The issue size of the IPO is ₹500 crore (₹300 cr fresh + ₹200 cr OFS). It will be listed on BSE and NSE platform.

Q4. What are the key risks to an investor?

Key risks include fierce competition, margin pressure in retail, inventory costs, consumer demand volatility and geographic concentration.

Q5. What are the potential upsides?

Upsides include rapid store expansion, strong regional leadership, rising smartphone demand and multi-brand offerings driving higher customer reach.

Q6. How to apply for the IPO?

Investors can apply through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

SS Retail Limited

Upcoming

SS Retail Limited

Market Cap

IPO Issue Size

~ ₹ 5,00 Crore

Expected Price by IPOCorner

—

IPO Score

*Score varies on actual price

SS Retail Limited is a multi-brand retail company engaged in selling mobile phones, accessories, and other electronic products across several Indian states, with a strategic focus on Tier-II and Tier-III cities.

SS Retail Limited was incorporated in 2016 & currently Mr. Siddharth Gunvant Shah serves as the Chairman & Managing Director (MD & CEO) of the company.

SS Retail Limited filed its DRHP with SEBI on December 27, 2025. The IPO features a Fresh Issue of up to ₹ 300 Crore and an Offer-For-Sale (OFS) of up to ₹ 200 Crore.

It is a multi-brand retail chain selling mobile phones, accessories, pre-owned phones and consumer electronics through various store formats. It also operates the Mobile Space and Mobile Exchangewala formats to enhance reach in Tier II/III and emerging markets.The company operates 451 stores across India, making it the largest mobile phone retail chain in West India and the 4th largest in India among its peers and has strong presence across Maharashtra, Karnataka, Madhya Pradesh and Goa reflects deep customer reach in Tier II/III cities, driving rapid network expansion.

Subscription date to apply for SS Retail Limited is yet to be announced. Price band for the IPO is also pending to be declared.

Year	2025
Networth	₹ 141.40
Revenue	₹ 1597.9 Cr
EBITDA	₹ 80.44Cr
PAT	₹ 39.86 Cr
EBITDA Margin	5.03%
PAT Margin	2.49%
Face Value	Rs.10 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
-	-
-	-
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	₹ 832.0	₹ 1,206.7	₹ 1,597.9
PAT (₹ Cr)	₹ 11.6	₹ 26.6	₹ 39.9
Asset (₹ Cr)	₹ 178.7	₹ 278.2	₹ 389.4
Net Worth (₹ Cr)	₹ 74.9	₹ 101.5	₹ 141.4

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
23-Aug	₹ –	₹ –	₹ –
22-Aug	₹ –	₹ –	₹ –
21-Aug	₹ –	₹ –	₹ –
20-Aug	₹ –	₹ –	₹ –
19-Aug	₹ –	₹ –	₹ –

Pros

Strong presence in Tier-II & Tier-III cities with a scalable mobile retail business model.
One of the largest organized mobile retail chains in West India with 450+ stores.
Multi-brand portfolio reduces dependency on a single handset manufacturer.
Consistent revenue growth backed by expanding store network and customer base.
IPO proceeds aimed at expansion and working capital, supporting future growth.

Cons

Highly competitive mobile retail market with thin margins.
Business heavily dependent on smartphone demand cycles and brand partnerships.
Large working capital requirements due to inventory-intensive operations.
Exposure to regulatory changes in retail and electronics distribution.
Any change in electronics chips prices or shortages directly impacts profit margins.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Siddharth Gunvant Shah	51.03%
Deepa Siddharth Shah	13.27%
Harshal Kishor Parekh	8.44%
Bhavini Harshal Parekh	2.96%
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	30.94%
ROCE	25.78%
RoNW	32.82%

Lead / Book Running Lead Managers

Anand Rathi Advisors Limited, Emkay Global Financial Services Limited

Registrar (RTA)

KFin Technologies Limited

Q1. What is the business of SS Retail Limited ?
It is a fast-growing multi-brand mobile and electronics retail chain selling phones, accessories, pre-owned phones and gadgets across Tier II/III and urban markets in India.
Q2. Why is the company raising funds via IPO?
SS Retail is raising funds via IPO to expand its store footprint, strengthen working capital and support general corporate purposes for future growth.
Q3. What is the size of the issue and where will it list?
The issue size of the IPO is ₹500 crore (₹300 cr fresh + ₹200 cr OFS). It will be listed on BSE and NSE platform.
Q4. What are the key risks to an investor?
Key risks include fierce competition, margin pressure in retail, inventory costs, consumer demand volatility and geographic concentration.
Q5. What are the potential upsides?
Upsides include rapid store expansion, strong regional leadership, rising smartphone demand and multi-brand offerings driving higher customer reach.
Q6. How to apply for the IPO?
Investors can apply through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.