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Patel Retail Ltd, a value supermarket chain operator, exhibited strong demand on its first day of bidding for an initial public offering (IPO). According to the National Stock Exchange (NSE), by the close of trading on August 19, 2025, the issue had been subscribed 6.39 times.
The Patel Retail IPO has attracted strong interest from retail and institutional investors alike. The company had an offer size of 78.15 lakh shares, and the demand was reflected with bid amounts across the categories totaling 4.99 crore.
The Patel Retail IPO Subscription Status indicates strong oversubscription across investor categories. The employee portion of the IPO also saw massive demand, with subscriptions at 3.25 times, which suggests a level of confidence from the company's internal investors.
Investors track the Patel Retail IPO GMP to gauge potential listing gains. The IPO will be open for subscriptions until August 21, 2025. They are offering the outstanding IPO at a price band of Rs. 237 to Rs. 255 per share, with a minimum lot size of 58 equity shares.
Market buzz around the Patel Retail IPO GMP Today reflects sentiment ahead of listing. The issue comprises a fresh issue of 85.18 lakh shares, amounting to Rs. 217.21 crore, and an offer for sale (OFS) of 10.02 lakh shares worth about Rs. 25.55 crore by existing promoters.
With rapid expansion plans, Patel Retail is aiming to strengthen its market presence. The company has earmarked the net proceeds from the fresh issue for:
Rs.109 crore to meet working capital requirements.
Rs.59 crore for repayment or prepayment of certain borrowings, and
The remaining funds are for general corporate purposes.
Before the IPO, Patel Retail successfully raised Rs.43.46 crore from anchor investors on August 18, allotting 17.04 lakh shares at Rs.255 per share to six institutional investors, namely BNP Paribas Financial Markets, Maybank Securities, and Chanakya Opportunities Fund.
Founded in 2008, with its first store in Ambernath, Maharashtra, and now operates 43 stores in 17 cities in the state of Maharashtra. The outlets, called “Patel’s R Mart”, serve suburban and tier-III city consumers with a diverse assortment of food, non-food, general merchandise, and apparel.
The company reported a net profit of Rs. 25.28 crore and revenues of Rs. 820.69 crore for FY25. On average, each store generated about Rs. 88 crore in annual revenue, underscoring its strong operational model.
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According to market trackers, Patel Retail shares were trading at a grey market premium (GMP) of Rs. 38 over the issue price on the opening day. At the upper band of Rs.255, this indicates a potential listing price of Rs. 293, representing a 14.9% premium.
With oversubscription among all investor categories and a vibrant grey market, Patel Retail's IPO looks set for a strong listing. The company has a demonstrated cluster-based expansion strategy and growing footprint in Western and Central India, which bolsters investor confidence in its long-term growth potential.
