SS Retail IPO GMP today is Rs 160. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
SSRETAIL
SS Retail IPO GMP & Allotment
SS Retail Limited operates a multi-brand retail chain specializing in mobile phones, pre-owned smartphones, accessories, and other electronic items across five Indian states. The company generates revenue primarily through the retail and wholesale distribution of mobile phones, supplemented by sales of pre-owned smartphones under its Mobile Exchange Wala brand, accessories, and other electronics like televisions, laptops, and tablets. It also earns revenue from offering ancillary services, including mobile protection plans and software. Operating through three distinct retail formats—Company Owned Company Operated, Company Owned Franchisee Operated, and Franchisee Owned Franchisee Operated—the business sources products via direct arrangements with brands and authorized distributors. SS Retail Limited primarily targets consumers in tier II, tier III, and beyond cities, relying on a strategically organized supply chain and warehouse infrastructure to manage product distribution across its retail store network.
- IPO Price Band
- ₹403.00 - ₹424.00
- Lot Size
- 35 Shares
- Bidding Closes
- 18 Sept 2026
- Listing Date
- 23 Sept 2026
Quick Answer & Highlights
SS Retail IPO GMP Today & Key Takeaways
Last updated: 23 Sept 2026
SS Retail IPO officially listed on 23 Sept 2026 at Rs 624.00, delivering a +47.17% listing gain compared to its issue price of Rs 500.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹160.
SS Retail IPO officially listed on 23 Sept 2026 at ₹624.00, delivering a +47.17% listing gain compared to its issue price of ₹500.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹160.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹160 | +37.74% vs upper band (23 Sept 2026) |
| Est. Listing Price | ₹624.00 | +47.17% Est. Listing Gain |
| Price Band | ₹403.00 - ₹424.00 | Mainboard IPO |
| Retail Minimum Investment | ₹14,840 | 1 Lot (35 Shares) |
| Bidding Window | 16 Sept 2026 – 18 Sept 2026 | Listed |
| Allotment & Listing Dates | Allotment: 21 Sept 2026 | Listing: 23 Sept 2026 |
Current GMP Status
₹160
+37.74% vs upper band
Est. Listing Gain
+47.17%
Last Trend
23 Sept 2026
Listing Price
₹624.00
Retail Entry
₹14,840
IPO Details
Complete IPO information
| IPO Open Date | 16 Sept 2026 |
|---|---|
| IPO Close Date | 18 Sept 2026 |
| IPO Price Band | ₹403.00 - ₹424.00 |
| Lot Size | 35 Shares |
| Current GMP | ₹160 |
| Estimated Listing Gain | +47.17% |
| Issue Size | Approx ₹500.75 Cr |
| Fresh Issue | Approx ₹360.75 Cr |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | TBA |
| Overall Subscription | 103.3x |
| Minimum Investment | ₹14,840 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 24.22 | 4,930.99 | 203.61xx |
| NII | 18.16 | 2,603.28 | 143.32xx |
| Retail | 42.38 | 1,541.16 | 36.36xx |
| Overall Subscription | 87.94 | 9,083.96 | 103.30xx |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, SS Retail is priced at ₹424 per share. With a minimum lot size of 35 shares, a retail investor applying for one lot would need approximately ₹14,840 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for SS Retail stands at ₹160, implying an estimated listing gain of around 37.74% over the issue price if it holds until listing. This is up ₹20 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, SS Retail's IPO was subscribed 103.3x overall, with a category-wise breakdown of Retail 36.36x, QIB 203.61x, NII 143.32x.
Among the strengths highlighted in SS Retail's IPO documents: Established multi-brand retail presence across tier II and III markets.; Scalable franchise-led retail store expansion model..
Investors should also weigh the risk factors SS Retail has disclosed, including: Over-reliance on mobile phone sales for the majority of revenue..
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
16 Sept 2026
✓
Bidding Closes
18 Sept 2026
✓
Allotment
21 Sept 2026
✓
Listing
23 Sept 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 16 Sept 2026 | Completed |
| Bidding Closes | 18 Sept 2026 | Completed |
| Allotment | 21 Sept 2026 | Completed |
| Listing | 23 Sept 2026 | Completed |
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 23 Sept 2026 | ₹160.00 | +₹20.00 | 37.74% |
| 22 Sept 2026 | ₹140.00 | -₹7.00 | 33.02% |
| 21 Sept 2026 | ₹147.00 | +₹2.00 | 34.67% |
| 19 Sept 2026 | ₹145.00 | +₹3.00 | 34.20% |
| 18 Sept 2026 | ₹142.00 | +₹62.00 | 33.49% |
| 17 Sept 2026 | ₹80.00 | -₹48.00 | 18.87% |
| 16 Sept 2026 | ₹128.00 | +₹48.00 | 30.19% |
| 14 Sept 2026 | ₹80.00 | - | 18.87% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 35 | ₹14,840 |
| Retail Maximum | 13 Lot | 455 | ₹1,92,920 |
| S-HNI Minimum | 14 Lot | 490 | ₹2,07,760 |
| S-HNI Maximum | 67 Lot | 2,345 | ₹9,94,280 |
| B-HNI Minimum | 68 Lot | 2,380 | ₹10,09,120 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Established multi-brand retail presence across tier II and III markets.
- Scalable franchise-led retail store expansion model.
- Unique pre-owned smartphone business under ‘Mobile Exchange Wala’.
- Direct sourcing network with major brands and distributors.
- Experienced promoter leadership with deep domain expertise.
Risks
- Over-reliance on mobile phone sales for the majority of revenue.
- High procurement dependence on the top 10 suppliers.
- Significant revenue concentration within Maharashtra.
- Working capital-intensive operations with high inventory needs.
- Dependency on leased properties for store operations.
Analysis
SS Retail IPO Reservation
The SS Retail IPO reservation structure divides the offered shares among qualified institutional buyers, non-institutional investors and retail investors. The allocation percentages provide an overview of how the public issue is planned to be distributed across investor categories.
QIB investors, excluding the anchor portion, are allocated 50% of the shares offered, while NII investors receive 15% and retail investors receive 35%. The anchor investor allocation is shown separately in the issue reservation structure.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The share quantities for each investor category are currently shown as provided and can be updated once the final reservation details are available.
Analysis
SS Retail IPO Anchor Investors
The SS Retail IPO anchor investor process is scheduled ahead of the public issue. Anchor investors are eligible institutional investors who may receive an allocation before the IPO opens for subscription.
The anchor bidding date is August 15, 2026. Details such as the final number of shares allocated and the total anchor allocation size can be updated after the anchor investor allotment is announced.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 15, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in End Date – 50% Shares (30 Days) | 2026 |
| Lock-in End Date – 50% Shares (90 Days) | 2026 |
Note: Anchor allocation, share quantity and lock-in dates can be updated once the final anchor investor details are officially disclosed.
Analysis
SS Retail IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 16 Sept 2026 |
| IPO Close Date | 18 Sept 2026 |
| Basis of Allotment | 21 Sept 2026 |
| Refunds | 22 Sept 2026 |
| Credit to Demat Account | 22 Sept 2026 |
| IPO Listing Date | 23 Sept 2026 |
Note: The timeline for SS Retail IPO is tentative and subject to change.
Analysis
SS Retail Promoters and Holding Pattern
The promoters of SS Retail are Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh and Bhavini Harshal Parekh. Together, the promoter and promoter group hold a significant stake in the company before the IPO.
Following the IPO, the promoter and promoter group holding is expected to reduce from 75.74% to 62.63%. At the same time, the shareholding of other shareholders increases to 37.37%, reflecting the dilution arising from the public issue.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 49,883,600 | 75.74% | 46,581,716 | 62.63% |
| Others* | 15,979,900 | 24.26% | 27,790,082 | 37.37% |
| Total | 65,863,500 | 100% | 74,371,798 | 100% |
Note: The holding pattern reflects the shareholding structure before and after the proposed SS Retail IPO.
Analysis
SS Retail Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Funding capital expenditure for fit-outs towards setting up new stores | 12.45 (3.46%) |
| Part funding of the working capital requirements of the Company | 241.35 (67.04%) |
| General Corporate Purposes | 106.95 (29.5%) |
Note: Objectives are as specified in the DRHP/RHP documents of SS Retail.
Analysis
SS Retail About Ipo
SS Retail, founded in June 2016, is a retail chain for mobile phones, accessories, and other electronic items. The firm sells its products under the brands ‘SS Mobile’, ‘Mobile Exchange Wala ’, and ‘The Mobile Space’ through both company-owned and franchise-operated store formats. Its product portfolio includes mobile phones, pre-owned smartphones, accessories, televisions, laptops and tablets, along with ancillary services such as mobile protection plans, EMI facilities, anti-theft software and mobile recharge services.
As of 2026, SS Retail has expanded to 536 stores across Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat, spanning approximately 2,60,597 sq. ft. Moreover, as of March 2026, SS Retail was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its competitors.
Analysis
SS Retail Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 (Standalone) | 1,208.04 Cr. | 1,172.83 Cr. | 26.65 Cr. | 278.25 Cr. |
| 2025 (Standalone) | 1,599.96 Cr. | 1,547.07 Cr. | 39.86 Cr. | 389.44 Cr. |
| 2026 (Consolidated) | 2,352.85 Cr. | 2,271.40 Cr. | 59.28 Cr. | 575.42 Cr. |
Note: Financial numbers for SS Retail are in ₹ Crores unless stated otherwise.
Analysis
SS Retail Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 30.60% |
| ROCE | 29.30% |
| EBITDA Margin | 5.32% |
| PAT Margin | 2.52% |
| Debt to Equity Ratio | 0.58 |
| Earning Per Share (EPS) | 9.11 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 32.60% |
| Net Asset Value (NAV) | 34.33 |
Note: Valuation KPIs for SS Retail are computed for FY2026.
Analysis
SS Retail IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Aditya Vision Limited | 9.07 | 66.29 | 18.38% | 53.26 | 2671.62 Cr. |
| Electronics Mart India Limited | 2.78 | 62.66 | 6.81% | NA | 7183.26 Cr. |
| Jay Jalaram Technologies Limited | 8.59 | 14.41 | 13.74% | NA | 851.82 Cr. |
| Fonebox Retail Limited | 6.63 | 15.08 | 17.94% | 40.25 | 535.08 Cr. |
| Bhatia Communications & Retail (India) Limited | 1.31 | 24.44 | 15.16% | 10.33 | 591.43 Cr. |
| Umiya Mobile Limited | 7.09 | 8.46 | 29.32% | 46.31 | 836.10 Cr. |
Note: Peer group comparisons for SS Retail are sourced from DRHP filings.
Analysis
SS Retail IPO Lead Managers aka Merchant Bankers
- Anand Rathi Advisors Ltd.
- Emkay Global Financial Services Ltd.
Comparison
Compare SS Retail IPO with similar IPOs
FAQ
SS Retail IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 160 and an issue price of Rs 424, the estimated listing price for SS Retail IPO is Rs 584.00 (approx 37.74% listing gain). Actual listing price is determined by market demand on the listing day.
SS Retail IPO price band is Rs 403.00 to Rs 424.00. Check the latest issue price, lot size and GMP together before applying.
SS Retail IPO open date is 16 Sept 2026, close date is 18 Sept 2026, and listing date is 23 Sept 2026.
SS Retail IPO lot size is 35 shares. The minimum retail investment is Rs 14,840.
SS Retail is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
SS Retail IPO subscription status currently shows Retail 36.36x, QIB 203.61x, NII 143.32x, Overall 103.3x.
SS Retail Limited operates a multi-brand retail chain specializing in mobile phones, pre-owned smartphones, accessories, and other electronic items across five Indian states. The company generates revenue primarily through the retail and wholesale distribution of mobile phones, supplemented by sales of pre-owned smartphones under its Mobile Exchange Wala brand, accessories, and other electronics like televisions, laptops, and tablets. It also earns revenue from offering ancillary services, including mobile protection plans and software. Operating through three distinct retail formats—Company Owned Company Operated, Company Owned Franchisee Operated, and Franchisee Owned Franchisee Operated—the business sources products via direct arrangements with brands and authorized distributors. SS Retail Limited primarily targets consumers in tier II, tier III, and beyond cities, relying on a strategically organized supply chain and warehouse infrastructure to manage product distribution across its retail store network.
SS Retail IPO issue size is 500.75 and the expected allotment date is 21 Sept 2026.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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