The listing was also in-line with grey market estimates, where shares of Patel Retail were commanding a premium of ₹52, which indicated a likely listing gain of 20% over the issue price.
What should investors do?Narendra Solanki of Anand Rathi Shares and Stock Brokers said that investors may consider booking partial profits on listing and holding the rest for long term.
Akhilesh Desai of Ajcon Global Services advised short-term investors to book gains while long-term investors may hold, depending on execution and regional expansion.
About the IPO
The public offer was open for bidding from August 19 to August 21. The company sold its shares in a fixed price band of ₹237-255.
The offer included a mix of a fresh issue of 85.18 lakh shares and an offer for sale of 10.02 lakh shares of promoters.
Proceeds from the fresh issuance will be used for payment of debt, funding of working capital requirements of the company and for general corporate purposes.
Company details
Patel Retail was established in 2008, launching its inaugural store in Ambernath, Maharashtra. Since then, it has expanded its operations throughout the suburban regions of Thane and the Raigad district in Maharashtra.
The company provides a diverse range of products including food, non-food items, general merchandise and apparel to meet the needs of families. It operates in tier-III cities and nearby suburban areas under the brand ‘Patel’s R Mart’. It operated and managed 43 stores as on May 31, 2025.
Patel Retail’s revenue rose to ₹820.69 crore in fiscal 2025 from ₹814 crore in the preceding financial year. Profit after tax surged to ₹25.28 crore from ₹22.53 crore.
