This Content Is Only For Subscribers
Mobile phones and electronics retailer SS Retail Limited is set to open its ₹500-crore initial public offering on September 16, with the public subscription window scheduled to close on September 18. The company has fixed the price band at ₹403 to ₹424 per equity share, while anchor investors will be able to bid on September 15.
The public issue consists of a fresh issue of equity shares worth up to ₹360 crore and an offer for sale worth up to ₹140 crore. At the upper end of the price band, the IPO is expected to value the company at around ₹3,153 crore. The shares are proposed to be listed on both the BSE and NSE, with NSE serving as the designated stock exchange. The tentative listing date is September 23.
SS Retail operates a multi-brand retail network for mobile phones, accessories and other electronic products under the SS Mobile, Mobile Exchange Wala and The Mobile Space brands. The company has expanded rapidly over the past two financial years. Its store count grew from 236 stores across 109 cities as of March 31, 2024, to 503 stores in 215 cities as of March 31, 2026, representing a compound annual growth rate of nearly 46%.
Maharashtra remains SS Retail’s core market. The state accounted for 458 of the company’s 503 stores as of March 31, 2026. The company also has operations in Karnataka, Madhya Pradesh, Goa and Gujarat. Its retail network covered approximately 2.41 lakh square feet at the end of fiscal 2026, with sales per square foot reported at ₹1.46 lakh during the year.
The company’s expansion strategy combines organic store additions with acquisitions. During fiscal 2026, SS Retail acquired a 51.04% stake in Olineo Nexus India Private Limited, which operated 34 stores in Maharashtra at the end of March 2026. It also acquired GIZMORE, a business-to-business retail accessories brand.
According to the company’s offer documents, a large part of the fresh-issue proceeds is proposed to be used for working-capital requirements. SS Retail also plans to deploy funds for store fit-outs as it aims to add 120 new outlets during fiscal 2027 and fiscal 2028.
Retail investors can apply for a minimum of 35 equity shares and in multiples of 35 shares thereafter. At the upper price band of ₹424, the minimum investment required is ₹14,840. Eligible employees applying through the employee reservation category will receive a discount of ₹25 per share to the final offer price.
Under the allocation structure, up to 50% of the net offer is reserved for qualified institutional buyers, at least 15% for non-institutional investors and at least 35% for retail individual investors. Investors should review the company’s red herring prospectus, including its risk factors, before taking an investment decision.
