Advertisement
Shares of Patel Retail, a Mumbai-based supermarket player, listed with a premium of nearly 20% on the BSE and NSE on Tuesday, August 26, 2025. This strong debut, which saw the stock open at INR 305 on the BSE, came despite the broader market trading in negative territory. The INR 242.76 crore Initial Public Offering (IPO), which was subscribed 95.70 times, will help fund the company's working capital needs and debt repayment. Patel Retail, which operates in Thane and Raigad districts, aims to use the fresh capital to expand its footprint in the region.
Shares of Patel Retail, a Mumbai-based supermarket player, listed with a premium of nearly 20% on the BSE and NSE on Tuesday, August 26, 2025. The company's stock started trading at INR 305, a jump of 19.60% from the issue price of INR 255 on the BSE. On the NSE, it listed at INR 300, a premium of 17.65%. The company, which has a market valuation of INR 981.98 crore, saw its shares trade lower later in the day, paring some of its gains. Advertisement
The successful listing is a notable achievement for the company, as the broader markets were trading in negative territory on the day. The 30-share BSE Sensex declined by 569.33 points, or 0.70 percent, and the 50-share NSE Nifty dropped by 161.05 points, or 0.65 percent. The INR 242.76 crore Initial Public Offering (IPO) had a price band of INR 237-255 per share and was subscribed 95.70 times on the closing day of bidding, August 21, 2025.
Patel Retail, which was established in 2008, operates in Tier-III cities and suburban regions of Thane and Raigad districts in Maharashtra. The company operates under the brand 'Patel's R Mart' and provides a diverse range of products, including food, non-food items, general merchandise, and apparel.
The IPO was a mix of a fresh issue of 85.18 lakh shares and an offer for sale (OFS) of 10.02 lakh shares by promoters. The proceeds from the fresh issuance will be used for debt payment, funding of working capital requirements, and for general corporate purposes. This fundraising will help the company scale its operations and expand its footprint in the region.
Source: PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
