Mobile retail company SS Retail has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise ₹500 crore through its initial public offering. The draft red herring prospectus was filed on Saturday, marking the company's entry into the public markets.

IPO Structure and Fund Utilization

The company's maiden public offering comprises two components as outlined in the draft papers:

Proceeds from the fresh issue will be strategically deployed across multiple areas. The company plans to fund capital expenditure for fit-outs towards setting up new stores in fiscal 2027 and fiscal 2028. Additional funds will support working capital requirements and general corporate purposes.

Business Operations and Store Network

SS Retail operates as a multi-brand retail chain specializing in mobile phones, accessories, and other electronic items. The company has established a significant presence across four states—Maharashtra, Karnataka, Madhya Pradesh, and Goa—with a strategic focus on tier-II and tier-III cities and beyond.

As of March 31, 2025, the company's retail footprint includes:

The concentration of stores in Maharashtra demonstrates the company's strong regional presence, with 96% of its outlets located in the state.

Financial Performance

SS Retail has demonstrated robust financial growth across key metrics. The company's operational performance shows consistent improvement year-over-year:

The significant revenue growth of over 32% and profit after tax increase of nearly 50% highlight the company's expanding market presence and operational efficiency improvements.

Investment Banking Arrangements

To manage the public offering, SS Retail has appointed experienced merchant bankers. Anand Rathi Advisors and Emkay Global Financial Services will serve as the lead managers for the IPO process, bringing their expertise in capital markets and retail sector offerings to ensure successful execution of the public issue.

JHS Svendgaard Retail Ventures Limited , a retail business operator, has reported a net loss for the first quarter of fiscal year 2026 and announced several key corporate changes, including the appointment of a new independent director and secretarial auditors.

Financial Performance

The company reported a consolidated net loss of Rs 7.34 lakh for the quarter ended June 30, 2025. This marks a significant shift from the standalone net profit of Rs 9.69 lakh recorded in the same quarter of the previous year. The consolidated revenue from operations stood at Rs 330.67 lakh, compared to the standalone revenue of Rs 346.52 lakh in Q1 FY25.

On a standalone basis, JHS Svendgaard Retail Ventures posted a net loss of Rs 2.64 lakh for Q1 FY26, with revenue from operations at Rs 327.67 lakh.

Key Corporate Actions

The Board of Directors, in their meeting held on August 13, 2025, approved several significant changes:

1. Appointment of Independent Director: Dr. Deepali Bhardwaj has been appointed as an Independent Women Director for a term of five years, subject to shareholder approval. Dr. Bhardwaj brings over 15 years of experience in the healthcare and wellness industry, with expertise in managing retail-facing health and skincare ventures.

2. New Secretarial Auditors: M/s. Dahiya & Associates, a firm of Practicing Company Secretaries, has been appointed as Secretarial Auditors for a period of five consecutive financial years from 2025-26 to 2029-30.

3. Audit Committee Reconstitution: Following the resignation of Mrs. Sushma Nanda from directorship, the Audit Committee has been reconstituted. The new composition includes Mr. Sanjay Sital Sangtani as Chairperson, with Mr. Nikhil Nanda, Mr. Ankur Garg, and Dr. Deepali Bhardwaj as members.

Strategic Developments

During the quarter, JHS Svendgaard Retail Ventures made a strategic move by acquiring a 50.01% stake in PJHS Entertainment Private Limited for Rs 11.70 lakh, making it a subsidiary of the company. This acquisition marks the company's first consolidated financial statements.

Capital Structure Changes

The company has seen significant changes in its capital structure:

• The authorized share capital increased from Rs 16 crore to Rs 20 crore.
• The paid-up share capital as of June 30, 2025, stands at Rs 7.40 crore, divided into 74,04,600 equity shares of Rs 10 face value each.
• A preferential allotment of warrants convertible into equity shares, approved in October 2024, has partially been converted, with 9,00,000 equity shares allotted under the Promoter category.
• Another preferential allotment of 29,20,000 warrants was approved in April 2025, with the company receiving Rs 328.50 lakh as 25% of the total consideration.

These developments reflect JHS Svendgaard Retail Ventures' efforts to strengthen its corporate governance, expand its business operations, and adjust its capital structure amidst challenging financial performance in the first quarter of FY26.