- POSITIVE
Annual Revenue SS Retail Mar-2026 Annual Revenue is Rs 2,336 Cr which is growth of 46.0% YoY.
- POSITIVE
Annual Net Profit SS Retail Mar-2026 Annual Net Profit is Rs 62 Cr which is growth of 55.0% YoY.
SS Retail Ltd. IPO Details
SS Retail was incorporated on June 14, 2016. The company is a multi-brand retail chain for mobile phones, accessories, and electronics, operating in Maharashtra, Karnataka, Madhya Pradesh, and Goa. It primarily focuses on tier II and tier III cities while serving multiple product categories across various city types
| Bidding Dates |
|---|
| 16 Sep 2026 - 18 Sep 2026 |
| Subscription |
|---|
| 103.3x Oversubscribed |
| Check Allotment Status |
|---|
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,105 | 1 | 13 | 35 | 11.8 M | ₹403 - ₹424 | 64.87 % | ₹4,752.4 M - ₹5,000.0 M | RHP DOC |
SS Retail IPO SUBSCRIPTION STATUS
18 Sep '26Total103.3x
Retail Individual Investor36.36x
HNI (NII) Investors143.32x
Qualified Institutional Buyers203.61x
Employees2.69x
SS Retail IPO overall subscription rate was 103.3 times the total available shares
SS Retail IPO retail subscription rate was 36.36 times in the retail segment
SS Retail IPO non-institutional investor subscription rate was 143.32 times in the non-institutional investor category
SS Retail IPO Qualified Institutional Bidder subscription rate was 203.61 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
18 Sep 2026 (Day 3) | 36.36x | 143.32x | 203.61x | 2.69x |
17 Sep 2026 (Day 2) | 7.55x | 9.91x | 0.23x | 0.86x |
16 Sep 2026 (Day 1) | 2.2x | 1.53x | 0.2x | 0.32x |
SS Retail FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 2,351.0 | 59.3 | 32.5 | 3.6 | 5.3% |
| FY25 | 1,597.9 | 39.9 | 1.4 | -9.8 | 5.0% |
| FY24 | 1,206.7 | 26.6 | -4.9 | -17.3 | 4.7% |
SS Retail IPO SUBSCRIPTION STATUS DETAILS
SS Retail has 11.8 M shares on offer
SS Retail IPO offer price is in the range ₹403 - ₹424
SS Retail IPO minimum Investment is ₹14105
SS Retail IPO issue size is ₹ 4,752.4 M - ₹ 5,000.0 M
SS Retail has a minimum lot size of 35 Shares per application
SS Retail NUMBER OF SHARES ON OFFER
Total11.8 M
Fresh Issue8.5 M
Offer for Sale3.3 M
Post Issue Promoter Holding %64.87 %
SS Retail IPO IMPORTANT DATES
| Issue Open Date | 16 Sep 2026 |
| Issue close Date | 18 Sep 2026 |
| Allotment Date | 21 Sep 2026 |
| Refund Date | 22 Sep 2026 |
| Demat Account Credit Date | 22 Sep 2026 |
| Listing Date | 23 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| SS Retail Allotment Status | Exchange/ Registrar |
SS Retail IPO subscription opens on 16 Sep 2026, and closes on 18 Sep 2026
IPO allotment for SS Retail is expected to be finalized on Monday, 21 Sep 2026
IPO listing for SS Retail will be on NSE and BSE on Wednesday, 23 Sep 2026
SS Retail IPO LISTING GAINS
| Issue Price (adjusted) | 424.0 |
| Listing Open Price | - |
| Listing Close Price | - |
| Listing Gain% | 0.0% |
| Current Gain% | 0.0% |
SS Retail Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SS Retail Ltd. | 424 | 3152.6 | 52.7 | 1.3 | 26.5 | 10.4 | 2352.9 | 59.8 | 8 | ||||
| Vedant Fashions Ltd. | 535.4 | 13007.8 | 33.7 | -13.6 | 8.9 | 19.1 | 13.2 | 1529 | 3.9 | 375.5 | -3.3 | 15.9 | -2.5 |
| Aditya Birla Lifestyle Brands Ltd. | 80.7 | 9854.5 | 56 | 0.3 | 1.1 | 12.1 | 2 | 8480.9 | 7.2 | 171 | 187 | 1.4 | 189.8 |
| Aditya Vision Ltd. | 627.1 | 8098.2 | 58.3 | 2 | 2.8 | 17 | 7.9 | 2681.5 | 18.3 | 116.9 | 10.8 | 10.8 | 29.2 |
| Electronics Mart India Ltd. | 192.6 | 7410.6 | 35.9 | 0.4 | 0.9 | 6.6 | 2.8 | 7191.4 | 3.1 | 107.1 | -33.1 | 5.4 | 88.8 |
| Ethos Ltd. | 2613.3 | 6992.6 | 67.3 | 5.5 | 4 | 6.4 | 4.3 | 1658.4 | 30 | 94.8 | -1.6 | 38.8 | 12.3 |
Annual
Balance Sheet
Ratios
Cash Flow
SS Retail annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Base Level
Reporting Type
Standalone
Cell Data
Actual
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CAGR Columns
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Base Level
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| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 2,336.5 | 1,600 | 1,208 | ||
Operating Exp. Ann. | 2,207.5 | 1,517.5 | 1,150.2 | |
Operating Profit Ann. | 126.8 | 80.4 | 56.5 | |
OPM Ann. % | 5.43% | 5.03% | 4.68% | |
| 2,252.5 | 1,547.1 | 1,172.8 | ||
EBITDA Ann. | 129 | 82.5 | 57.8 | |
EBITDA Ann. margin % | 5.52% | 5.15% | 4.78% | |
Interest Ann. | 16.4 | 12.7 | 10 | |
Depr. | 28.7 | 16.9 | 12.6 | |
PBT Ann. | 84 | 52.9 | 35.2 | |
Tax Ann. | 22.2 | 13 | 8.6 | |
| 61.8 | 39.9 | 26.6 | ||
Net Profit Ann. | 61.8 | 39.9 | 26.6 | |
NPM Ann. % | 2.64% | 2.49% | 2.20% | |
EPS Adj. latest Ann. | 8.3 | 5.4 | 3.6 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
46%
2Y CAGR
39.1%
Net Profit Ann.
1Y CHG
54.9%
2Y CAGR
52.4%
Operating Exp. Ann.
1Y CHG
45.5%
2Y CAGR
38.5%
SS Retail INFORMATION ON IPO ISSUE
About SS Retail
SS Retail was incorporated on June 14, 2016. The company is a multi-brand retail chain for mobile phones, accessories, and electronics, operating in Maharashtra, Karnataka, Madhya Pradesh, and Goa. It primarily focuses on tier II and tier III cities while serving multiple product categories across various city types
Object of the Issue
- Funding capital expenditure for fit outs towards setting up of new stores in FY27 and FY28
- Part funding of the incremental working capital requirements of the company
- General corporate purposes
SS Retail - PROMOTERS
| Name |
|---|
| Siddharth Gunvant Shah |
| Deepa Siddharth Shah |
| Harshal Kishor Parekh |
| Bhavini Harshal Parekh |
SS Retail - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Siddharth Gunvant Shah | Chairman & Managing Director |
| Harshal Kishor Parekh | Whole-time Director |
| Deepa Siddharth Shah | Whole-time Director |
| Sagar Patil | Whole-time Director |
| Adke Abhishek Ashok | Independent Director |
| Asit Chimanlal Mehta | Independent Director |
| Ajay Sharma | Independent Director |
| Anupama Wagh Koppar | Independent Director |
SS Retail Book Running Lead Managers
Anand Rathi Advisors Limited
ssrl.ipo@rathi.com
Emkay Global Financial Services Limited
ssretail.ipo@emkayglobal.com
SS Retail Registrar to the Offer
KFin Technologies Limited
ssretail.ipo@kfintech.com
SS Retail Strengths
One of the largest retail network
The company is a multi-brand mobile and electronics retail chain and, as of FY25, operated 347 stores across India, making it the largest mobile phone retailer in West India and Maharashtra and the fourth largest in India. Its store network expanded rapidly from 181 stores in 2023 to 451 stores by November 2025, positioning it as one of the fastest-growing mobile retail chains in the country
Strength
Product mix business
The company is a multi-brand retail chain offering a broad range of mobile phones, pre-owned phones, accessories, and other electronics, with a primary focus on mobile phones and accessories. It also retails audio devices, wearables, TVs, laptops, and tablets, generating a significant portion of revenue from mobile phone sales
Strength
Established business
The company operates across metro, mini-metro, tier I, II, and III+ cities, with a focus on expanding in tier II and III+ regions, which accounted for 17.29% and 59.57% of stores respectively as of June 30, 2025. Growth in these cities is driven by rising smartphone adoption, wider 4G/5G penetration, and increased affordability through financing options
Strength
SS Retail Risks
High volume & low margin business
The company operates a high-volume, low-margin business, relying on efficient inventory management, expense control, and consistent sales to maintain profitability. Overstocking increases financing needs, while understocking can hurt sales and operating results
Risk
Licenses & approvals
The company must obtain and maintain all required statutory and regulatory permits for its operations, and any delays or failures in securing these approvals could adversely impact its business
Risk
Competition
The company operates in a competitive, fast-changing industry where customer preferences, economic conditions, and technological trends influence demand. Failure to anticipate customer needs or maintain optimal inventory could adversely affect its business and financial performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 140.0 crore, of 3,301,886 shares. It also consists of a fresh issue of Rs 360.0 crore.
The promoters of the company are Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh and Bhavini Harshal Parekh.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 403.0 - 424.0.
The IPO application opens on Sep 16, 2026 and closes on Sep 18, 2026.
The minimum lot size for the IPO is 35. The maximum lot size for the IPO is 455.
For all category investors, the minimum application amount for this IPO is Rs. 14,105.0, the maximum value for this IPO is Rs 192,920.0.
This IPO will be allotted on Sep 21, 2026.
The refund will be credited to your account on Sep 22, 2026.
The allotted shares will be credited to your demat on Sep 22, 2026.
SS Retail Ltd.’s shares will list on the stock exchanges on Sep 23, 2026.