Patel Retail’s Initial Public Offering (IPO) received strong demand as soon as it opened. By 12:30 PM on the first day of subscription (Tuesday), the IPO was subscribed 2.78 times.
The retail investor quota was subscribed 1.82 times.
The employees’ category received 1.30 times bids.
The non-institutional investor quota was subscribed 2.59 times.
The qualified institutional buyers’ (QIB) category received the highest response with 6.85 times subscription.
The IPO will remain open for bidding until 21 August 2025.
Grey Market Premium (GMP) and Listing Details
Patel Retail’s shares are showing strong demand in the grey market, trading at a premium of ₹46. Based on the current Grey Market Premium (GMP), the listing price could be above ₹300.
IPO Price: ₹255 per share
Public Issue Size: ₹242.76 crore
Funds raised from anchor investors: ₹43 crore (on Monday)
Listing Date: 26 August 2025
Stock Exchanges: BSE and NSE
Investment Details for Retail Investors
Retail investors can apply for a minimum of 1 lot and a maximum of 13 lots.
1 Lot = 58 shares
Investment required for 1 lot = ₹14,790
Before the IPO, the promoters — D R Patel, B R Patel, H B Patel, and R D Patel — held a 97.99% stake, which will reduce to 70.01% after the IPO.
About Patel Retail Limited
Founded in 2008, Patel Retail Limited is a retail supermarket chain operating mainly in tier-3 cities.
First store opened in Ambarnath, Maharashtra, under the brand name Patel’s R Mart.
Product range includes food, non-food items, general merchandise, and apparel.
Currently, the company operates 43 stores across different locations.