Price Band of ₹237/– ₹255/- per Equity Share bearing face value of ₹10/- each (“Equity Shares”)
Bid/Offer Opening Date – Tuesday, August 19, 2025 and Bid/Offer Closing Date –Thursday, August 21, 2025.
Minimum Bid Lot is 58 Equity Shares and in multiples of 58 Equity Shares thereafter.
Mumbai, August 11, 2025 ( TGN ): Patel Retail Limited has fixed the price band of ₹237 /- to ₹255/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, August 19, 2025, for subscription and close on Thursday, August 21, 2025. Investors can bid for a minimum of 58 Equity Shares and in multiples of 58 Equity Shares thereafter.
The IPO is a mix of fresh issue of shares up to 85,20,000 Equity Shares and an offer for sale up to 10,02,000 Equity Shares Promoters Selling Shareholders. The offer also includes a subscription reservation by eligible employees, and a discount of ₹ 20 is being offered to Eligible Employees bidding in the employee reservation portion.
The proceeds from the fresh issue to the extent of Rs 59 crore will be utilized for repayment/prepayment, in full or part, of certain borrowings availed of by the Company; Rs 115 crore for funding working capital requirements of the Company; and general corporate purposes.
Patel Retail Limited was incorporated in June 13, 2007, primarily engaged as a retail supermarket chain operating in tier-III cities and nearby suburban areas, with focus on “value retail”, offering food, non-food (FMCG), general merchandise and apparel. It started its first store under the brand “Patel’s R Mart” at Ambernath, Maharashtra and since, its operations are spread across the suburban area of Thane and Raigad district in Maharashtra. As on May 31, 2025 it operated and managed forty-three (43) stores, with a Retail Business Area of approx. 1,78,946 sq.fts.
The Company with an objective to increase margin and to promote its brand “Patel’s R Mart”, it launched its private label goods comprising of Pulses (“Patel Fresh”), spices (“Indian Chaska”), mens wear (“Blue Nation”), home improving products (“Patel Essentials”), ready-to-cook / instant mix (“Patel Fresh”), ghee and papad (“Indian Chaska”). Since 2008, it has increased its store offerings with 38 product categories and over 10,000 product SKUs. It exports it to over thirty-five (35) countries during the disclosed financial period
Its retail stores sell third party reputed brand products, unbranded products and its private label products. It plans to deepen its store network in the western suburban area of the MMR such as Mira Road, Bhayander, Virar, Vasai and also in the municipal region of Pune, Maharashtra. It operates predominantly on lease model, where our average lease period is around 5 years.
The company has its mobile application “Patel’s R Mart” both on IOS and android with over 86,000+ downloads with over 17,000 active users.
Patel Retail’s revenue from operations increased to ₹820.69 crore in Fiscal 2025 from ₹814.19 crore in Fiscal 2024, primarily due to primarily due to an increase in Sale of retail sale attributable to increase in sale volumes from existing stores. Profit after tax increased by 12.18% from ₹22.53 crore in Fiscal 2024 to ₹25.28 crore in Fiscal 2025.
Fedex Securities Private Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the Offer.
The Offer is being made through the book-building process, wherein not more than 30% of the net issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 25% of the offer shall be available for allocation to non-institutional investors, and not less than 45% of the offer shall be available for allocation to retail individual investors.
