SS Retail IPO 2026: Price, GMP, Dates, Lot Size, Financials & Review

SS Retail IPO 2026 is a Mainboard book-built issue of ₹500.75 crore, comprising a fresh issue of ₹360.75 crore and an Offer for Sale (OFS) of ₹140 crore. The IPO is scheduled to open on September 16, 2026 and close on September 18, 2026, with listing proposed on BSE and NSE on September 23, 2026.
The price band is fixed at ₹403–₹424 per share, with a lot size of 35 shares. Retail investors need a minimum investment of ₹14,840 at the upper price band.
SS Retail operates a multi-brand mobile and electronics retail business, with a strong presence across Maharashtra and other states. The company operates brands including SS Mobile, xchange Wala and The Mobile Space, serving customers across metro, Tier I, Tier II and Tier III markets.

SS Retail IPO Details

SS Retail IPO Timeline

Dates are tentative and may change.

SS Retail IPO GMP

As of September 10, 2026, the reported SS Retail IPO GMP is ₹0. Based on the supplied GMP data, the estimated listing price is ₹424, equal to the upper end of the IPO price band.

GMP Disclaimer: Grey Market Premium is unofficial and can change rapidly. It should not be considered a guaranteed indicator of the actual listing price.

SS Retail IPO Subscription Status

The IPO has not opened for subscription as of September 10, 2026. Therefore, live QIB, NII and retail subscription data is currently unavailable.

Subscription figures will become available after bidding begins on September 16, 2026.

Day-wise Subscription Trend

SS Retail IPO Current Subscription Data

At present, live subscription data is not available because bidding has not started. The subscription status can be updated during the IPO period as exchange data becomes available.

SS Retail IPO Lot Size

The minimum application is 35 shares, requiring ₹14,840 at the upper price band of ₹424.

SS Retail IPO Reservation

About SS Retail

SS Retail Ltd. is a diversified retail company focused primarily on mobile phones, accessories and other electronic products. The company operates across Maharashtra, Karnataka, Madhya Pradesh and Goa, with a strong focus on Tier II, Tier III and smaller markets.

As of March 31, 2025, SS Retail operated 347 stores across 149 cities, compared with 181 stores across 89 cities as of March 31, 2023. This represents a store-count CAGR of 38.46%.

As of November 30, 2025, the company had expanded to 451 stores covering 212,517 sq. ft.

The company is positioned as the largest mobile phone retail chain in West India and Maharashtra and the fourth largest in India among its identified peers, according to the supplied company information.

Major Brands

• SS Mobile: The flagship retail brand selling smartphones, accessories and electronics through large, medium and small-format stores.
• xchange Wala: Launched in FY2023, this brand focuses on pre-owned mobile phones through a shop-in-shop model.
• The Mobile Space: Also launched in FY2023, this format targets customers in Tier II, Tier III and beyond markets.

The company also operated four smartphone cafés in Maharashtra as of June 30, 2025.

Store Operating Models

SS Retail operates through:

• COCO – Company Owned, Company Operated
• COFO – Company Owned, Franchisee Operated
• FOFO – Franchisee Owned, Franchisee Operated

SS Retail IPO Objectives

The company proposes to use the net IPO proceeds for the following purposes:

The largest allocation is towards working capital, reflecting the company's expanding store network and inventory-led retail model. A smaller portion will support new-store fit-outs.

SS Retail Financial Performance

SS Retail recorded strong financial growth in FY26. Total income increased from ₹1,599.96 crore in FY25 to ₹2,352.85 crore, while PAT increased from ₹39.86 crore to ₹59.28 crore.
The company also expanded its asset base and net worth significantly, reflecting the rapid growth of its retail network.

Key Financial Ratios

The company reported a 30.60% ROE and 29.30% ROCE, indicating strong returns relative to its capital base. However, the PAT margin of 2.52% reflects the relatively low-margin nature of large-format retail businesses.

SS Retail IPO Valuation

At the post-IPO valuation, the company is valued at approximately 53.2x earnings, based on the supplied figures. Investors should therefore compare the valuation with listed retail and electronics peers before making a decision.

Promoter Holding

The promoters of SS Retail include:

• Siddharth Gunvant Shah
• Deepa Siddharth Shah
• Harshal Kishor Parekh
• Bhavini Harshal Parekh

The supplied IPO data indicates promoter holding of 75.74% before the IPO.

SS Retail IPO Peer Comparison

SS Retail shows a relatively strong RoNW of 32.60%, although its indicated post-IPO P/E of 53.2x places the valuation at a premium to several peers.

Competitive Strengths

• Strong presence in Maharashtra and West India.
• Large and rapidly expanding store network.
• Focus on Tier II, Tier III and beyond markets.
• Multiple retail brands covering new and pre-owned smartphones.
• COCO, COFO and FOFO operating models.
• Strong procurement and broad product portfolio.
• High sales efficiency per square foot.
• Experienced promoter and management team.
• Consistent revenue and profit growth.

Risks Investors Should Consider

• Retail margins can remain relatively low despite strong revenue growth.
• The business requires significant working capital for inventory.
• Expansion increases dependence on successful store performance.
• Competition from organised retailers and online marketplaces remains high.
• The IPO valuation is relatively demanding compared with several peers.
• Changes in smartphone demand and consumer spending can affect sales.
• Dependence on mobile and electronics products creates category concentration risk.

Should You Invest in SS Retail IPO?

SS Retail presents a combination of rapid store expansion, strong revenue growth and a sizeable presence in India's mobile retail market. FY26 revenue reached ₹2,352.85 crore and PAT stood at ₹59.28 crore, while RoNW was 32.60%.

The key point for investors is valuation. At the supplied post-IPO P/E of 53.2x, SS Retail is not being offered at a low valuation. Investors should therefore evaluate the company's growth rate, store productivity, working-capital requirements and valuation against comparable listed retailers.

The IPO may appeal more to investors who are comfortable with a growth-oriented retail business and its associated valuation risk. GMP should be treated only as a market indicator and not as the primary basis for subscription.

SS Retail IPO Allotment Status

The tentative SS Retail IPO allotment date is September 21, 2026.

After the allotment is finalised, investors can check their status through the IPO registrar, KFin Technologies, using their application number, PAN or other required details.

The tentative schedule is:

• Allotment: September 21, 2026
• Refunds: September 22, 2026
• Demat Credit: September 22, 2026
• Listing: September 23, 2026

SS Retail IPO Registrar

• KFin Technologies Ltd.
• Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally
• Website: ipostatus.kfintech.com 
• Phone: 040-79615565
• Email: ssretail.ipo@kfintech.com

SS Retail IPO Lead Managers

The Book Running Lead Managers are:

• Anand Rathi Advisors Ltd.
• Emkay Global Financial Services Ltd.
•  

SS Retail Company Details

• SS Retail Ltd.
• 399, E, Basant Bahar Road,
  Ratikmal Complex, Shop 6-7,
  Kolhapur, Maharashtra – 416003
• Website: www.ssmobile.com
• Phone: +91 90961 91222
• Email: compliance@ssmobile.com

SS Retail IPO Summary

SS Retail IPO is a ₹500.75 crore Mainboard IPO comprising a ₹360.75 crore fresh issue and ₹140 crore OFS. The IPO will open on September 16, 2026 and close on September 18, 2026, with listing proposed on September 23 on BSE and NSE. The price band is ₹403–₹424 per share and the lot size is 35 shares, requiring ₹14,840 at the upper band. SS Retail operates a growing multi-brand mobile and electronics retail network through SS Mobile, xchange Wala and The Mobile Space. Its revenue increased to ₹2,352.85 crore and PAT to ₹59.28 crore in FY26. However, the indicated post-IPO P/E of 53.2x makes valuation an important factor for investors to assess alongside the company's strong store expansion and profitability.

SS Retail IPO FAQs

When will SS Retail IPO open?

The SS Retail IPO will open on September 16, 2026.

When will SS Retail IPO close?

The IPO will close on September 18, 2026.

What is the SS Retail IPO price band?

The price band is ₹403 to ₹424 per share.

What is the SS Retail IPO lot size?

The lot size is 35 shares.

What is the minimum investment in SS Retail IPO?

The minimum retail investment is ₹14,840 at the upper price band.

What is the SS Retail IPO issue size?

The total issue size is ₹500.75 crore, comprising ₹360.75 crore fresh issue and ₹140 crore OFS.

What is SS Retail IPO GMP today?

As of September 10, 2026, the supplied GMP is ₹0.

When will SS Retail IPO be listed?

The tentative listing date is September 23, 2026 on BSE and NSE.

Who is the registrar of SS Retail IPO?

KFin Technologies Ltd. is the registrar.

Who are the SS Retail IPO lead managers?

Anand Rathi Advisors Ltd. and Emkay Global Financial Services Ltd. are the book running lead managers.

Disclaimer

The information provided above is based on the IPO data available at the time of writing and is intended for informational purposes only. IPO dates, GMP, subscription figures, financial information and other details may change. Grey market premium is unofficial and should not be treated as a guaranteed listing indicator. Investors should review the company's offer documents and conduct their own due diligence before making any investment decision.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.