Investors queue to subscribe to Patel Retail IPO as the supermarket chain sees strong demand on the second day of bidding (Freepik)
The Initial Public Offering (IPO) of Patel Retail is set to meet a high demand from investors, standing strong on the second day of auctioning, which was on August 20. The supermarket chain has placed its IPO of at least ₹242.76 crore, which already attracted attention on its first day with 6.39 times subscription.
Bids were made so far for 6.84 crore shares against the offer of 78.15 lakh shares, according to the NSE data at 10:50 a.m. The Qualified Institutional Buyer: Non-institutional investors have subscribed their quota up to a staggering 10.74 times, while the QIB boasted a subscription figure of 9.88. RIIs also showed great interest, recording 7.40 times subscription. Prior to the IPO, the company had raised over ₹43 crore from anchor investors.
Capital derived from the fresh issue is proposed to be used for repaying loans, for working capital requirements and for other general corporate purposes.
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Thus, the wise deployment of such proceeds is intended to fortify Patel Retail's finances and fund its ongoing plans for expansion.
Started in 2008, Patel Retail threw open its first shop in Ambernath, Maharashtra, before signaling its foray into the suburban peripheries of the districts of Thane and Raigad.
Under brand Patel's R Mart, the company provides an array of products such as food items, non-food items, general merchandise, and apparel thereby addressing tier III cities and areas around it.
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Over the years, Patel Retail grew from single-store presence to more than 40 supermarkets. The company has also set up production to streamline its supply chain for processing peanuts, coriander, cumin, and other spices. Such vertical integration is part of Patel Retail's plan for quality, improved consumer experience, and long-term brand loyalty.
The IPO of Patel Retail will be open on 19th August 2025, with a price band ranging between ₹237–₹255, and a market lot for 58 shares. Allotments should be made on 22nd August via Bigshare Services, and the shares will debut on the NSE and BSE on 26th August. Between ₹28 on 12 August and ₹50 on 20 August, the Grey Market Premium (GMP) has ranged, indicating strong confidence from investors.
Patel Retail has notched a consistent performance: for one, total income has grown on average, by 11% per annual count- ₹82,775.34 lakh (2021) to ₹1,01,980.36 lakh (2023). This momentum in finance, folded hand-in-hand with expansion initiatives and supply-chain innovation, makes a considerable difference in being one of India's retail market players.
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