Patel Retail IPO is scheduled to open for subscription on August 19, 2025, and will close on August 21, 2025. The basis of allotment will be finalized on August 22, 2025, while refunds and credit to Demat accounts are expected on August 25, 2025. The company’s shares are proposed to list on both BSE and NSE on August 26, 2025.
Patel Retail is coming up with a Book Build Issue of around ₹242.76 crores, comprising a fresh issue of approximately ₹215.91 crores and an offer for sale (OFS) of up to 10,02,000 equity shares with a face value of ₹10 each. The IPO price band is fixed at ₹237 to ₹255 per share, with a lot size of 58 shares. The minimum retail investment stands at ₹13,746, while the sNII category requires 14 lots (₹2,07,060) and bNII category requires 68 lots (₹10,05,720). The allocation ratio has been set at 50% for QIBs, 35% for retail investors, and 15% for HNIs.
In terms of financial performance, Patel Retail reported revenue of ₹825.99 crores in FY2025 compared to ₹817.71 crores in FY2024, and profit rose to ₹25.28 crores from ₹22.53 crores in the same period. Based on these financials, experts suggest that long-term investors may find this IPO attractive.
Overview of Contents
About Patel Retail IPO
Patel Retail Limited, incorporated in 2008, is a supermarket chain mainly operating in tier-III cities and suburban areas, offering food items, FMCG products, general merchandise, and apparel under its brand “Patel’s R Mart.” Starting with a single store in Ambernath, Maharashtra, the company has expanded to 43 stores across Thane and Raigad districts as of May 31, 2025, covering about 1,78,946 sq. ft. of retail space. To improve margins and brand presence, it has launched private label products like Patel Fresh (pulses, ready-to-cook), Indian Chaska (spices, ghee, papad), Blue Nation (men’s wear), and Patel Essentials (home improvement).
The company operates three main facilities—Ambernath, Maharashtra (processing and packaging), Dudhai, Kutch, Gujarat (processing peanuts, coriander, cumin), and the Agri-Processing Cluster in Dudhai spread over 15.925 acres with production units, fruit pulp processing, warehouse (3,040 MT), cold storage (3,000 MT), and testing lab; facilities in Dudhai are collectively called the Kutch Facilities. Patel Retail positions itself as a neighbourhood supermarket for both daily and bulk shopping, also earning rental income from in-store vendors, with most sales from Maharashtra and Gujarat, offering 38 product categories and over 10,000 SKUs, supported by its own logistics fleet of 18 trucks. Focused on quality for customer satisfaction and loyalty, the company has grown revenue at an average rate of 11% annually from ₹82,775.34 lakhs in 2021 to ₹1,01,980.36 lakhs in 2023.
Patel Retail IPO Overview
| Particulars | Details |
|---|---|
| Issue Price Band | ₹237 to ₹255 per share |
| Face Value | ₹10 per equity share |
| Total Issue Size | 95,20,000 shares (₹242.76 Crores approx.) |
| Fresh Issue | 84,67,000 shares (₹215.91 Crores approx.) |
| Offer for Sale (OFS) | 10,02,000 shares (₹25.55 Crores approx.) |
| Net Shares Offered to Public | 94,69,000 shares (₹241.46 Crores approx.) |
| Lot Size | 58 shares |
| Employee Reservation | 51,000 shares (₹1 Crore approx.) |
| Employee Discount | ₹20 per equity share |
| Issue Type | Book Building IPO |
| Sale Type | Fresh Capital cum Offer for Sale |
| Listing Exchanges | BSE & NSE |
| Shareholding Pre-IPO | 2,48,82,528 shares |
| Shareholding Post-IPO | 3,34,00,528 shares |
| Retail Quota | Up to 35% |
| Qualified Institutional Buyers (QIB) Quota | Up to 50% |
| Non-Institutional Investors (NII) Quota | Up to 15% |
Patel Retail IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
| Addendum DRHP | Click here |
Patel Retail IPO Dates
| Event | Date (Day, DD MMM YYYY) |
|---|---|
| IPO Open Date | Monday, 19 August 2025 |
| IPO Close Date | Wednesday, 21 August 2025 |
| Basis of Allotment | Thursday, 22 August 2025 |
| Refunds | Sunday, 25 August 2025 |
| Credit to Demat Account | Sunday, 25 August 2025 |
| IPO Listing Date | Tuesday, 26 August 2025 |
Patel Retail IPO GMP
- To be Updated
Patel Retail IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 58 | ₹14,790 |
| Retail Maximum | 13 | 754 | ₹1,92,270 |
| S-HNI Minimum | 14 | 812 | ₹2,07,060 |
| B-HNI Minimum | 68 | 3,944 | ₹10,05,720 |
Objects of the Issue
- Repayment/prepayment, in full or part, of certain borrowings availed of by the Company.
- Funding of working capital requirements of the Company.
- General corporate purposes.
Patel Retail IPO Review
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Patel Retail IPO Financial Performance
| Financial Metric | FY Ending March 31, 2023 | FY Ending March 31, 2024 | FY Ending March 31, 2025 |
|---|---|---|---|
| Total Borrowings | 182.81 | 185.75 | 180.54 |
| Total Income | 1,019.80 | 817.71 | 825.99 |
| EBITDA | 43.24 | 55.84 | 62.43 |
| Net Worth | 71.87 | 94.40 | 134.57 |
| Profit After Tax (PAT) | 16.38 | 22.53 | 25.28 |
| Total Assets | 303.12 | 333.02 | 382.86 |
Patel Retail IPO Valuation Metrics – FY2025
| Key Performance Indicator (KPI) | Value |
|---|---|
| Return on Equity (ROE) | 19.02% |
| Return on Capital Employed (ROCE) | 14.43% |
| EBITDA Margin | 7.61% |
| Profit After Tax (PAT) Margin | 3.08% |
| Debt to Equity Ratio | 1.34 |
| Earnings Per Share (EPS) – Basic | ₹10.30 |
| Price to Earnings (P/E) Ratio | Not Available (N/A) |
| Net Asset Value (NAV) per Share | ₹54.08 |
Patel Retail IPO Promoter Holding
The promoters of Patel Retail Limited are Dhanji Raghavji Patel, Bechar Raghavji Patel, Hiren Bechar Patel, and Rahul Dhanji Patel. Before the IPO, the promoters held a significant 97.99% stake in the company. After the IPO, their shareholding is expected to reduce to 70.01%, reflecting the dilution due to the fresh issue and offer for sale.
Patel Retail IPO FAQs
When does the Patel Retail IPO open and close?
The IPO opens on August 19, 2025, and closes on August 21, 2025.
What is the price band for the Patel Retail IPO?
The price band is set between ₹237 and ₹255 per share.
What is the lot size for the IPO application?
One lot consists of 58 shares.
How much is the minimum investment required for retail investors?
The minimum investment is ₹13,746 (for 58 shares at the lower price band).
What is the total issue size of the IPO?
The total issue size is approximately ₹242.76 crores.
What type of issue is the Patel Retail IPO?
It is a Book Building IPO with a combination of fresh issue and offer for sale.