Patel Retail IPO is a book-built issue worth โน242.76 crores, consisting of a fresh issue of 0.85 crore shares aggregating to โน217.21 crores and an offer for sale of 0.10 crore shares totaling โน25.55 crores.
The Patel Retail IPO will open for subscription on August 19, 2025, and close on August 21, 2025. The IPO allotment is expected on August 22, 2025, while the tentative listing date on BSE and NSE is set for August 26, 2025.
The Patel Retail IPO price band is fixed between โน237 to โน255 per share. The lot size is 58 shares, requiring a minimum retail investment of โน13,746. For sNII investors, the lot size is 14 lots (812 shares) with an investment of โน2,07,060, while for bNII investors, it is 68 lots (3,944 shares) amounting to โน10,05,720.
Patel Retail IPO Details
| General | Detail |
|---|---|
| IPO Date | August 19, 2025 to August 21, 2025 |
| Listing Date | [.] |
| Face Value | โน10 per share |
| Issue Price Band | โน237 to โน255 per share |
| Lot Size | 58 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 95,20,000 shares (aggregating up to โน242.76 Cr) |
| Reserved for Employees | 51,000 shares (aggregating up to โน1 Cr) |
| Fresh Issue | 84,67,000 shares (aggregating up to โน215.91 Cr) |
| Offer for Sale | 10,02,000 shares of โน10 (aggregating up to โน25.55 Cr) |
| Net Offered to Public | 94,69,000 shares (aggregating up to โน241.46 Cr) |
| Employee Discount | โน20.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,48,82,528 shares |
| Share Holding Post Issue | 3,34,00,528 shares |
Patel Retail IPO Date
The Patel Retail IPO will open for subscription on August 19, 2025, and close on August 21, 2025, giving investors a three-day bidding window to participate in the IPO.
| IPO Timeline | Date |
|---|---|
| IPO Open Date | Tue, Aug 19, 2025 |
| IPO Close Date | Thu, Aug 21, 2025 |
| Tentative Allotment | Fri, Aug 22, 2025 |
| Initiation of Refunds | Mon, Aug 25, 2025 |
| Credit of Shares to Demat | Mon, Aug 25, 2025 |
| Tentative Listing Date | Tue, Aug 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2025 |
Patel Retail IPO Lot Size
Investors in the Patel Retail IPO can place bids for a minimum of 58 shares and in multiples thereafter. The table below highlights the minimum and maximum investment limits for retail investors and HNI (sNII and bNII) categories in terms of both shares and total application amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 58 | โน14,790 |
| Retail (Max) | 13 | 754 | โน1,92,270 |
| S-HNI (Min) | 14 | 812 | โน2,07,060 |
| S-HNI (Max) | 67 | 3,886 | โน9,90,930 |
| B-HNI (Min) | 68 | 3,944 | โน10,05,720 |
Patel Retail IPO Promoter Holding
The promoters of Patel Retail IPO are Dhanji Raghavji Patel, Bechar Raghavji Patel, Hiren Bechar Patel, and Rahul Dhanji Patel, who play a key role in driving the companyโs growth and business operations.
| Share Holding Pre Issue | 97.99% |
| Share Holding Post Issue | 70.01% |
Note: In the case of the Patel Retail IPO, the value of equity dilution will be calculated using the formula:Equity Dilution = Shareholding (Pre-Issue) โ Shareholding (Post-Issue).
Patel Retail IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 30% of the Net Offer |
| Retail Shares Offered | Not less than 45% of the Net Offer |
| NII Shares Offered | Not less than 25% of the Net Offer |
Investor Category Reservation
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 2 Lakhs | Yes |
| Employee + RII/NII | Employee limit: Up to Rs 2 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for Employee and RII/NII |
About Patel Retail IPO
Patel Retail Limited was founded in 2007 and has emerged as one of the fastest-growing supermarket and FMCG retail chains in India. The company operates an extensive network of stores, primarily concentrated across the Mumbai Metropolitan Region (MMR). Its key clusters include KalyanโDombivli, Ulhasnagar, Bhiwandi, Ambernath, Badlapur, and Diva, giving it a dense and cost-efficient retail footprint.
As of May 31, 2025, the company had 43 operational stores, while the official website currently lists 45 stores, reflecting Patel Retailโs consistent expansion. This rapid growth makes the Patel Retail IPO an important opportunity in the upcoming IPO market.
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In 2016, Patel Retail established its food processing facility at Dudhai, which handles pulses, spices, peanuts, and other staples. This integrated supply chain ensures better quality control, reduced dependence on third-party suppliers, and stronger profit margins.
On the financial front, the company reported revenues of โน818 crore in FY24 and โน826 crore in FY25, highlighting its ability to maintain growth and scale. The business is promoted by Dhanji Raghavji Patel, Bechar Raghavji Patel, Hiren Bechar Patel, and Rahul Dhanji Patel, whose experience and industry knowledge continue to guide the company. With strong fundamentals and growing retail presence, the Patel Retail IPO is positioned as a noteworthy IPO for investors.
Company Products
- Staples & Grains: Rice, wheat flour, millets, pulses, sugar, jaggery.
- Spices & Condiments: Turmeric, chilli, coriander, cumin, and blended spices.
- Dry Fruits & Nuts: Almonds, cashews, peanuts, raisins.
- Processed Foods: Mango pulp and packaged regional products.
- Household Essentials: Daily-use utilities with limited apparel and home products.
Company Strengths
- Dense MMR Network: The companyโs strong presence in KalyanโDombivli, Ulhasnagar, Bhiwandi, Ambernath, Badlapur, and Diva allows efficient logistics, better margins, and customer loyalty.
- Integrated Supply Chain: The Dudhai processing facility ensures quality and cost control in spices, pulses, and dry fruits, adding value to the IPO proposition.
- Steady Financial Growth: With revenues of โน818โ826 crore across FY24โFY25, Patel Retail demonstrates strong scale and resilience, a positive for the Patel Retail IPO.
- Experienced Promoters: Led by the Patel family, the promoters bring decades of retail industry knowledge, ensuring long-term stability.
- Everyday Product Focus: Concentration on staples and daily essentials ensures repeat customer visits and stable revenue flow, making the IPO attractive.
Competitors of Patel Retail Ltd.
- D-Mart (Avenue Supermarts Ltd.) โ Leading nationwide supermarket chain.
- Reliance Retail โ Strongest FMCG and grocery player in India.
- Spencerโs Retail โ Competes in urban supermarket space.
- Regional Chains โ Star Bazaar, Ratnadeep, and local MMR stores.
- Online Platforms โ JioMart, BigBasket, Blinkit.
Company Financials
Patel Retail Ltd. Financial Information
Patel Retail Ltd. reported a 1% growth in revenue and a 12% rise in profit after tax (PAT) between the financial years ending March 31, 2024, and March 31, 2025.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 382.86 | 333.02 | 303.12 |
| Total Income | 825.99 | 817.71 | 1,019.80 |
| Profit After Tax | 25.28 | 22.53 | 16.38 |
| EBITDA | 62.43 | 55.84 | 43.24 |
| Net Worth | 134.57 | 94.40 | 71.87 |
| Total Borrowing | 180.54 | 185.75 | 182.81 |
| Amount in โน Crore | |||
Key Performance Indicator (KPI)
The estimated market capitalization of Patel Retail IPO stands at โน851.71 crore, based on the upper price band.
| KPI | Values |
|---|---|
| ROE | 19.02% |
| ROCE | 14.43% |
| Debt/Equity | 1.34 |
| RoNW | 19.02% |
| PAT Margin | 3.08% |
| EBITDA Margin | 7.61% |
| Price to Book Value | 4.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.16 | 7.57 |
| P/E (x) | 25.1 | 33.69 |
Note:
- The Pre-IPO EPS is calculated on the basis of the pre-issue shareholding as disclosed in the RHP, using the latest financial year earnings as of March 31, 2025.
- The Post-Issue EPS is derived from the post-issue shareholding and the annualized FY 2025 earnings presented in the RHP.
Objects of the Issue
The Patel Retail IPO proposes to utilize the Net Proceeds from the fresh issue for the following objectives:
| S.No. | Objects of the Issue | Expected Amount (โน in crores) |
|---|---|---|
| 1 | Repayment/prepayment, in full or part, of certain borrowings availed of by the Company. | 59.00 |
| 2 | Funding of working capital requirements of the Company. | 115.00 |
| 3 | General corporate purposes. |
Patel Retail IPO Contact Details
Patel Retail Ltd. Contact Details
- Patel Retail Ltd.
Plot No. M-2, Anand Nagar,
Additional MIDC, Ambernath (East)- 421506,
Ambernath, Maharashtra, India
Ambarnath, Maharashtra, 421506 - Phone: +91 7391043825
- Email: cs@patelrpl.net
- Website: https://patelrpl.in/
Patel Retail IPO Registrar
- Phone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://ipo.bigshareonline.com/IPO_Status.html
- Total issue size: โน242.76 crore
- Fresh issue: โน217.21 crore (0.85 crore shares)
- Offer for Sale (OFS): โน25.55 crore (0.10 crore shares)
- Price band: โน237 to โน255 per share
- Lot size: 58 shares
- Minimum investment (Retail): โน13,746
- Minimum investment (sNII): โน2,07,060 for 14 lots (812 shares)
- Minimum investment (bNII): โน10,05,720 for 68 lots (3,944 shares)
- Allotment Date: August 22, 2025 (Tentative)
- Listing Date: August 26, 2025 (Tentative)
- Exchanges: BSE and NSE
- Revenue FY24: โน818 crore
- Revenue FY25: โน826 crore (Up 1%)
- PAT FY25 growth: Up 12% over FY24
- Market Capitalization post IPO: โน851.71 crore
- Dhanji Raghavji Patel
- Bechar Raghavji Patel
- Hiren Bechar Patel
- Rahul Dhanji Patel
- A fast-growing supermarket and FMCG retail chain
- Operates mainly in Mumbai Metropolitan Region (MMR)
- As of May 2025: 43 stores (website shows 45, reflecting growth)
- Products include staples, grains, spices, pulses, dry fruits, and household essentials
- Also operates a food processing facility at Dudhai for peanuts, spices, and pulses
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