Patel Retail IPO Price: ₹237 to ₹255 per share
IPO Dates: 19th August 2025 – 21st August 2025
Company Overview
Patel Retail Limited was originally incorporated as “Patel Retail Pvt. Ltd.” at Ambernath, Maharashtra, in June 2007. In July 2023, it was converted into a public limited company and renamed “Patel Retail Ltd.” The company is primarily engaged in operating a retail supermarket chain in the state of Maharashtra, particularly in the Mumbai Metropolitan Region (MMR) across Thane and Raigad districts. It focuses on a “value retail” model, offering food, non-food (FMCG), general merchandise, and apparel.
Retail Operations
The company opened its first store under the brand “Patel’s R Mart” at Ambernath, Maharashtra. Since then, operations have expanded across suburban areas of Thane and Raigad districts. As of May 31, 2025, Patel Retail operates and manages 43 stores with a total retail business area of approximately 1,78,946 sq. ft.
Following a cluster-focused expansion strategy, the company plans to deepen its presence in western suburban MMR locations such as Mira Road, Bhayander, Virar, and Vasai, as well as expand into Pune, Maharashtra.
Product Portfolio
Since FY 2008, Patel Retail has expanded its product range significantly. As of May 31, 2025, it offers around 38 product categories with over 10,000 SKUs across its stores. To enhance margins and strengthen brand recognition, the company has also introduced private label brands, including:
- Patel Fresh – pulses and ready-to-cook items
- Indian Chaska – spices, ghee, and papad
- Blue Nation – men’s wear
- Patel Essentials – home improvement items
Manufacturing Facilities
The company has developed strategically located facilities to support both its retail and private-label operations:
- Ambernath Facility, Maharashtra – Handles processing, quality checks, and packaging of private label products such as pulses, ready mixes, and grocery items.
- Dudhai Facility, Kutch, Gujarat – Processes agri-products like peanuts, coriander seeds, and cumin seeds, supporting backward integration.
- Agri-Processing Cluster, Dudhai, Kutch, Gujarat – Spread across 15.925 acres, this facility includes five production units, a fruit pulp processing unit, a dry warehouse (3,040 MT capacity), a cold storage facility (3,000 MT capacity), and an in-house testing and research laboratory.
Facilities 2 and the Agri-Processing Cluster are collectively known as the Kutch Facilities.
Export Business
In addition to domestic retail, Patel Retail exports staples, groceries, pulses, spices, and pulps under its brands Patel Fresh and Indian Chaska. The company has built a strong international footprint, exporting to 35+ countries during the disclosed financial period.
Distribution and Logistics
Patel Retail positions its outlets as neighbourhood supermarkets, catering to both daily needs and bulk shopping. Beyond retail operations, it also earns rental income from vendor arrangements inside its stores.
The company maintains a strong logistics and distribution network, including an owned fleet of 18 trucks, ensuring efficient supply chain management across its retail and export businesses.
Competitive Strengths
- Deep knowledge of product assortment and inventory management supported by IT systems.
- Steady expansion driven by a cluster-focused store acquisition strategy.
- Strong logistics and distribution network, supported by company-owned fleet.
- Diversified product portfolio across 38 categories and 10,000+ SKUs.
- Strategically located manufacturing facilities near agricultural belts and ports.
- Large-scale procurement and storage capabilities.
- Long-standing customer relationships and strong brand loyalty.
- Experienced promoters and management team with proven retail expertise.
- Strong track record of growth, profitability, and brand building.
Bidding Starts In
Patel Retail IPO Specifics:
| IPO Date | August 19, 2025 to August 21, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹237 to ₹255 per share |
| Lot Size | 58 Shares |
| Total Issue Size | 95,20,000 shares (aggregating up to ₹242.76 Cr) |
| Reserved for Employees | 51,000 shares (aggregating up to ₹1 Cr) |
| Fresh Issue | 84,67,000 shares (aggregating up to ₹215.91 Cr) |
| Offer For Sale | 10,02,000 shares (aggregating up to ₹25.55 Cr) |
| Net Offered to Public | 94,69,000 shares (aggregating up to ₹241.46 Cr) |
| Employee Discount | ₹20 |
| Issue Type | Book Built Issue 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 Timetable (Important Dates)
| IPO Open Date | Tuesday, August 19 2025 |
| IPO Close Date | Thursday, August 21 2025 |
| Basis of Allotment | Friday, August 22 2025 |
| Initiation of Refunds | Monday, August 25 2025 |
| Credit of Shares to Demat | Monday, August 25 2025 |
| Listing Date | Tuesday, August 26 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2025 |
Patel Retail IPO Lot Size
Bidders have the opportunity to bid for a minimum of 58 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 58 | ₹14,790 |
| Retail (Max) | 13 | 754 | ₹1,92,270 |
| S-HNI (Min) | 14 | 812 | ₹2,07,060 |
| S-HNI (Max) | 67 | 3,886 | ₹9,90,930 |
| B-HNI (Min) | 68 | 3,944 | ₹10,05,720 |
Patel Retail IPO Reservation
| QIB Shares Offered | Not more than 30% of the Net offer |
| Retail Shares Offered | Not less than 45% of the Offer |
| NII (HNI) Shares Offered | Not less than 25% of the Offer |
Patel Retail Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 303.12 | 333.02 | 382.86 |
| Revenue | 1019.80 | 817.71 | 825.99 |
| Profit After Tax | 16.38 | 22.53 | 25.28 |
| EBITDA | 43.24 | 55.84 | 62.43 |
| Net Worth | 71.87 | 94.40 | 134.57 |
| Total Borrowing | 182.81 | 185.75 | 180.54 |
Key Performance Indicator – Patel Retail IPO
| KPI | Values |
|---|---|
| Market Cap | ₹851.71 Cr |
| EPS | ₹10.16 |
| P/E (x) | 25.1 |
| ROE | 19.02% |
| ROCE | 14.43% |
| PAT Margin | 3.08% |
| RoNW | 19.02% |
| Debt/Equity | 1.34 |
Objects of the Issue:
Patel Retail Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Repayment/Prepayment of Borrowings:
An amount of ₹59.00 crore will be used towards repayment or prepayment, in full or in part, of certain borrowings availed by the company. This will help reduce debt and strengthen the balance sheet. - Funding Working Capital Requirements:
₹115.00 crore will be allocated to meet the company’s working capital needs, supporting day-to-day operations, inventory management, and business expansion. - General Corporate Purposes:
The remaining funds will be utilized for general corporate activities, including administrative expenses, brand development, and other strategic initiatives to support growth.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
