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    SS Retail IPO

    Updated 24 Oct 2026, 6:50 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,840

    1 lot · 35 shares at the upper price band

    Price band

    ₹424

    Latest GMP

    ₹160

    +37.7% of the ₹424 upper band

    Est. listing price

    ₹584

    Issue size

    ₹139.84 Cr

    Listing price

    ₹624.00

    NSE SSRETAIL, special pre-open price

    Listing gain

    +47.2%

    Listing price against the issue price

    First-day close

    ₹748.80

    Since issue

    +53.2%

    ₹649.7 close, 23 Oct 2026

    As NSE lists it

    The exchange's own issue data, NSE symbol SSRETAIL · read 24 Oct 2026, 12:15 am

    Price band
    ₹403–424
    Bidding
    16 Sept 2026 – 18 Sept 2026
    Subscribed (NSE)
    —
    Shares offered
    —
    Listed
    23 Sept 2026
    Issue price
    ₹424

    NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.

    Allotment status

    Check it on the registrar's page or either exchange with your PAN or application number.

    1. Allotment finalised21 Sept 2026(done)
    2. Refunds start22 Sept 2026(done)
    3. Shares credited to demat22 Sept 2026(done)
    4. Listing23 Sept 2026(done)
    Check on Kfin Technologies Ltd.Check on BSECheck on NSE

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    23 Sept 2026, 1:50 pm₹160₹584
    23 Sept 2026, 1:45 pm₹160₹584
    23 Sept 2026, 8:50 am₹160₹584
    23 Sept 2026, 8:45 am₹160₹584
    22 Sept 2026, 6:50 pm₹139₹564
    22 Sept 2026, 6:45 pm₹140₹564
    22 Sept 2026, 1:50 pm₹140₹564
    22 Sept 2026, 1:45 pm₹140₹564
    22 Sept 2026, 8:50 am₹140₹564
    22 Sept 2026, 8:45 am₹140₹564
    21 Sept 2026, 6:50 pm₹156₹580
    21 Sept 2026, 6:45 pm₹156₹580
    21 Sept 2026, 1:50 pm₹152₹571
    21 Sept 2026, 1:46 pm₹147₹571
    21 Sept 2026, 11:23 am₹151₹571
    21 Sept 2026, 8:45 am₹147₹571
    19 Sept 2026, 6:45 pm₹145₹569
    19 Sept 2026, 1:45 pm₹145₹569
    19 Sept 2026, 8:45 am₹145₹569
    18 Sept 2026, 6:45 pm₹137₹561
    18 Sept 2026, 1:45 pm₹137₹561
    18 Sept 2026, 8:45 am₹137₹561
    17 Sept 2026, 6:45 pm₹133₹557
    17 Sept 2026, 1:45 pm₹80₹504
    17 Sept 2026, 8:45 am₹80₹504
    16 Sept 2026, 6:45 pm₹105₹529
    16 Sept 2026, 1:45 pm₹128₹552
    16 Sept 2026, 8:50 am₹128₹552
    16 Sept 2026, 8:45 am₹128₹552
    15 Sept 2026, 9:28 pm₹140₹564
    15 Sept 2026, 9:20 pm₹140₹564
    15 Sept 2026, 8:37 pm₹140₹564
    15 Sept 2026, 8:30 pm₹140₹564
    15 Sept 2026, 8:00 pm₹140₹564
    15 Sept 2026, 2:12 pm₹143₹564
    15 Sept 2026, 2:10 pm₹140₹564
    15 Sept 2026, 12:09 am₹130₹544
    15 Sept 2026, 12:08 am₹120₹544
    14 Sept 2026, 2:27 pm₹128₹544
    14 Sept 2026, 2:25 pm₹120₹544
    12 Sept 2026, 9:50 pm₹93₹504
    12 Sept 2026, 9:49 pm₹80₹504
    12 Sept 2026, 5:41 pm₹93₹504
    12 Sept 2026, 5:40 pm₹80₹504
    12 Sept 2026, 1:26 pm₹95₹504
    12 Sept 2026, 1:25 pm₹80₹504
    11 Sept 2026, 10:33 pm₹33₹454
    11 Sept 2026, 10:31 pm₹30₹454
    11 Sept 2026, 6:20 pm₹33₹454
    11 Sept 2026, 6:19 pm₹30₹454
    11 Sept 2026, 1:35 pm₹30₹454
    11 Sept 2026, 1:33 pm₹30₹454
    11 Sept 2026, 12:30 pm₹30₹454
    11 Sept 2026, 12:25 pm₹30₹454
    11 Sept 2026, 12:20 pm₹30₹454
    11 Sept 2026, 11:58 am₹30₹454
    10 Sept 2026, 11:47 pm₹15₹0
    10 Sept 2026, 11:07 pm₹0₹0
    10 Sept 2026, 11:00 pm₹0₹0
    10 Sept 2026, 10:30 pm₹15₹0
    10 Sept 2026, 10:29 pm₹0₹0
    10 Sept 2026, 6:26 pm₹0₹0
    10 Sept 2026, 6:25 pm₹0₹0
    10 Sept 2026, 4:50 pm₹0₹0
    10 Sept 2026, 1:38 pm₹0₹0
    10 Sept 2026, 11:43 am₹0₹0
    10 Sept 2026, 11:40 am₹0₹0
    10 Sept 2026, 11:39 am₹0₹0
    9 Sept 2026, 10:39 pm₹0₹0

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹424
    Issue size
    ₹139.84 Cr
    Lot size
    35
    Opens
    16 Sept 2026
    Closes
    18 Sept 2026
    Allotment
    21 Sept 2026
    Listing
    23 Sept 2026
    Est. listing price
    ₹584
    Listing price
    ₹624
    Listing gain
    +47.2%
    Registrar
    Kfin Technologies Ltd.
    Minimum investment
    ₹14,840 (1 lot · 35 shares)
    Face value
    ₹10 per share
    Issue type
    Bookbuilding IPO
    Sale type
    Fresh capital cum OFS
    Fresh issue
    ₹360 Cr
    Offer for sale
    ₹140 Cr
    Listing at
    BSE, NSE
    Refunds
    22 Sept 2026
    Shares credited
    22 Sept 2026
    Promoter holding
    75.74% before · 64.85% after
    Lead managers
    Anand Rathi Advisors Ltd., Emkay Global Financial Services Ltd.

    Offer documents & links

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 18 Sept 2026, 4:04 pm.

    Total subscription

    107.41x

    Qualified Institutional214.22×
    Non Institutional150.33×
    Retail Individual35.81×
    Employee Reservations2.72×

    Full issue details

    Details as published for this issue, read 22 Sept 2026, 9:05 am. Verify against the RHP before applying.

    IPO Details

    IPO Date16 to 18 Sep, 2026
    Listing DateWed, Sep 23, 2026 (tentative)
    Face Value₹ 10 per share
    Price Band₹403 to ₹424
    Issue Price₹424 per share
    Lot Size35 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Employee Discount₹ 25.00
    Total Issue Size1,18,10,182 shares (agg. up to ₹ 500 Cr)
    Fresh Issue85,08,298 shares (agg. up to ₹ 360 Cr)
    Offer for Sale33,01,884 shares of ₹ 10 (agg. up to ₹ 140 Cr)
    Share Holding Pre Issue6,58,63,500 shares
    Share Holding Post Issue7,43,71,798 shares

    IPO Timetable (Tentative)

    IPO Open
    Wed, Sep 16, 2026
    IPO Close
    Fri, Sep 18, 2026
    Allotment
    Mon, Sep 21, 2026
    Refund
    Tue, Sep 22, 2026
    Credit of Shares
    Tue, Sep 22, 2026
    Listing
    Wed, Sep 23, 2026

    Issue Reservation

    • QIB48.73%
    • NII (HNI)14.62%
    • Retail34.11%
    • Employee2.55%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Net Issue% of Total IssueMax Allottees
    QIB57,54,71550.00%48.73%NA
    - Anchor Investor34,52,829—29.24%NA
    - QIB (Ex. Anchor)23,01,886—19.49%NA
    NII (HNI)17,26,41515.00%14.62%NA
    - bNII > ₹10L11,50,944—9.75%2,348
    - sNII < ₹10L5,75,471—4.87%1,174
    Retail40,28,30135.00%34.11%1,15,094
    Preferential Reservations
    Employee3,00,751—2.55%NA
    Total1,18,10,182100.00%100.00%—

    SS Retail IPO comprises a total issue size of 1,18,10,182 shares. The net offer to the public is 1,15,09,431 shares, after excluding 3,00,751 shares under a preferential allotment. Of the Net offer 57,54,715 (50.00%) are allocated to QIB , 17,26,415 (15.00%) allocated to NII 40,28,301 (35.00%) allocated to RII .

    IPO Lot Size

    Retail (Min)₹14,840
    Retail (Max)₹1,92,920
    S-HNI (Min)₹2,07,760
    S-HNI (Max)₹9,94,280
    B-HNI (Min)₹10,09,120
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)135₹14,840
    Retail (Max)13455₹1,92,920
    S-HNI (Min)14490₹2,07,760
    S-HNI (Max)672,345₹9,94,280
    B-HNI (Min)682,380₹10,09,120

    Investors can bid for a minimum of 35 shares and in multiples thereof.

    IPO Anchor Investors

    Bid DateTue, Sep 15, 2026
    Shares Offered34,52,829
    Anchor Portion (₹ Cr.)146.40
    Anchor lock-in period end date for 50% shares (30 Days)Wed, Oct 21, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Sun, Dec 20, 2026

    SS Retail IPO raises ₹ 146.40 crore from anchor investors . SS Retail IPO Anchor bid date is September 15, 2026 .

    📝 Anchor Investors Letter (PDF)

    Investor Category Reservations

    CategoryLimitCut-off
    RIIUp to ₹2 LakhsYes
    sNII₹2 Lakhs – ₹10 LakhsNo
    bNIIAbove ₹10 LakhsNo
    Employee (EMP)Up to ₹5 LakhsYes
    Employee + RII/NIIUp to ₹5Lakhs (EMP) + RII/NII limitsYes (EMP/RII)

    About SS Retail Ltd.

    Incorporated June 2016, SS Retail Ltd. is a multi-brand retail chain for mobile phones, accessories and other electronic items, with operations across Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat. It primarily focuses on Tier II and Tier III and beyond cities and, as of March 31, 2026, operated 503 stores across 215 cities, covering approximately 2,41,365 sq. ft.

    The Company operates under its proprietary brands 'SS Mobile', 'Mobile Exchange Wala' and 'The Mobile Space' through a combination of company-owned and franchisee-operated store formats. Its product portfolio includes mobile phones, pre-owned smartphones, accessories, televisions, laptops and tablets, along with ancillary services such as mobile protection plans, EMI facilities, anti-theft software and mobile recharge services. As of July 31, 2026, its retail network had expanded to 536 stores covering approximately 2,60,597 sq. ft.

    The Company follows a scalable retail model comprising COCO, COFO and FOFO formats and uses local franchisee partnerships to expand its presence in regional markets. During Fiscal 2026, it acquired 51.04% shareholding in Olineo Nexus India Private Limited, adding 34 stores to its network. As of March 31, 2026, the Company was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its peers, according to the cited industry report.

    As of March 31, 2026, the Company had 689 permanent employees, comprising personnel across management, accounts and audit, operations, sales, sales support, supply chain and HR and administration.

    Competitive Strengths

    Large and rapidly expanding retail store network.

    Scalable COCO, COFO and FOFO business models.

    Strong presence in Tier II and Tier III and beyond cities.

    Strong customer reach through local franchisee partnerships.

    Largest mobile phone retail chain in West India and Maharashtra.

    Experienced Promoter and management team with strong domain expertise.

    Wide product portfolio with focus on mobile phones, accessories and electronic items.

    Established brand presence through SS Mobile, Mobile Exchange Wala and The Mobile Space.

    Company Financials (Restated Standalone)

    Total Income

    31 Mar 20241,208.04
    31 Mar 20251,599.96
    31 Mar 20262,352.85

    Profit After Tax

    31 Mar 202426.65
    31 Mar 202539.86
    31 Mar 202659.28

    EBITDA

    31 Mar 202456.50
    31 Mar 202580.44
    31 Mar 2026125.15

    NET Worth

    31 Mar 2024101.51
    31 Mar 2025141.37
    31 Mar 2026225.71
    Company Financials (Restated Standalone): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets575.42389.44278.25
    Total Income2,352.851,599.961,208.04
    Profit After Tax59.2839.8626.65
    EBITDA125.1580.4456.50
    NET Worth225.71141.37101.51
    Reserves and Surplus159.59128.1888.52
    Total Borrowing162.59125.36110.43
    Amount in ₹ Crore

    SS Retail Ltd.'s revenue increased by 47% and profit after tax (PAT) rose by 49% between the financial year ending with March 31, 2026 and March 31, 2025.

    Note:-

    The financial statements for 2026 are Consolidated.

    IPO Objects of the Issue

    Funding capital expenditure for Fit Outs towards setting up of new stores in Fiscal 2027 and Fiscal 202812.45
    Part funding of the incremental working capital requirements of Company241.35
    General Corporate Purposes79.75
    Issue Expenses36.69
    IPO Objects of the Issue: What the proceeds are earmarked for (₹ Cr.). Figures as published in the table below.
    #Issue ObjectsEst Amt (₹ Cr.)
    1Funding capital expenditure for Fit Outs towards setting up of new stores in Fiscal 2027 and Fiscal 202812.45
    2Part funding of the incremental working capital requirements of Company241.35
    3General Corporate Purposes79.75
    4Issue Expenses36.69
    Total370.25

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    ROE30.60%
    ROCE29.30%
    Debt/Equity0.70
    RoNW32.60%
    PAT Margin2.52%
    EBITDA Margin5.32%
    NAV34.33
    Price to Book Value12.35

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)9.007.97
    P/E (x)47.1153.2
    Market Cap at Offer Price₹2,792.61 Cr.₹3,153.36 Cr

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

    Shareholding Structure

    Pre IPO

    • Promoter and Promoter Group75.74%
    • Public24.26%

    Post IPO

    • Promoter and Promoter Group64.85%
    • Public35.15%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group75.74%64.85%
    Public24.26%35.15%
    Total100%100%

    Company Promoters: Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh and Bhavini Harshal Parekh.

    Offer For Sale - Selling Shareholders

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    Siddharth Gunvant ShahPromoter10,61,32045.00
    Deepa Siddharth ShahPromoter3,30,18814.00
    Harshal Kishor ParekhPromoter1,88,6798.00
    Bhavini Harshal ParekhPromoter70,7543.00
    Rakhi Narendra FirodiaOther16,50,94370.00
    Total—33,01,884140.00

    SS Retail IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0020
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)214.2223,01,88649,30,99,775
    NII150.3317,26,41525,95,27,660
    bNII (> ₹10L)165.0611,50,94318,99,79,440
    sNII (< ₹10L)120.855,75,4726,95,48,220
    Retail35.8140,28,30114,42,56,525
    Employee2.723,00,7528,17,285
    Total107.4183,57,35489,77,01,245

    The SS Retail IPO is subscribed 107.41 times on September 18, 2026 4:04:22 PM (Day 3). The public issue subscribed 35.81 times in the retail category, 214.22 times in the QIB category, and 150.33 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 40,97,637

    IPO Expenses

    #Issue ExpensesEst Amt (₹ Cr.)
    1BRLMs fees and commissions (including underwriting commission, brokerage and selling commission19.18
    2Brokerage, selling commission, bidding charges, processing fees for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs and Sponsor Banks2.49
    3Fees payable to the Registrar to the Offer0.39
    4Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses6.23
    5Printing and stationery0.96
    6Advertising and marketing expenses for the Offer1.29
    7Fee payable to legal counsel, the statutory auditor, independent chartered accounts4.90
    8Miscellaneous1.27
    Total36.69

    IPO Registrar

    Kfin Technologies Ltd.

    040-79615565

    ssretail.ipo@kfintech.com

    IPO Lead Manager(s)

    Anand Rathi Advisors Ltd.

    Emkay Global Financial Services Ltd.

    Contact Details

    SS Retail Ltd. Address

    399, E, Basant Bahar Road

    Ratikmal Complex

    Shop 6-7

    Kolhapur, Maharashtra , 416003

    +91 90961 91222

    compliance@ssmobile.com

    SS Retail IPO in the news

    Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.

    SS Retail IPO Allotment Status: 6.08x Subscribed, Check Online

    Univest · 22 Sept 2026

    SS Retail IPO Allotment Today: How to check status online via KFin Technologies, NSE, BSE

    Zee Business · 21 Sept 2026

    SS Retail IPO Allotment Status Announced After 107x Subscription; Investors Eye 36% Gain; Check All Details

    Goodreturns · 21 Sept 2026

    SS Retail IPO Allotment Status: Direct Link, Allotment Chances, Refund & Key Details

    IPO Central · 21 Sept 2026

    SS Retail IPO: Subscription Hits 107 Times, Allotment Finalization Today

    zoomnews.in · 21 Sept 2026

    IPO Allotment Status Today: Hero Motors IPO Vs SS Retail IPO Vs Jindal Supreme IPO GMP; Who Will List Strong?

    Goodreturns · 21 Sept 2026

    SS Retail IPO Share Allotment Today: Check SS Retail Allotment Status, Subscription Data and Online Share Allocation

    HDFC Sky · 21 Sept 2026

    SS Retail IPO allotment status: GMP at 35% — check on BSE, NSE and registrar

    Moneycontrol.com · 21 Sept 2026

    FAQ

    SS Retail: common questions

    Answered from this issue's own record.

    The SS Retail Mainboard IPO is priced at ₹424 per share, for an issue size of ₹139.84 crore.

    The issue opens on 16 Sept 2026 and closes on 18 Sept 2026, with listing expected on 23 Sept 2026.

    One lot is 35 shares, and applications must be in multiples of a lot. At the upper band that is ₹14,840 for one lot.

    Latest recorded subscription: QIB 214.22x, NII 150.33x, retail 35.81x (as of 24 Oct 2026).

    SS Retail listed at ₹624 on 23 Sept 2026. That was a gain of 47.17% against the issue price.