Mobile retail chain SS Retail has taken a significant step towards going public by filing draft papers with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The company aims to raise ₹500 crore through this offering, which includes both fresh issue of shares and an offer for sale (OFS) by existing shareholders.

IPO Structure

The proposed IPO comprises two components:

Company Overview

SS Retail has established a strong presence in the mobile retail sector, operating a network of 347 stores across four states in India. This extensive retail footprint positions the company as a significant player in the mobile phone distribution landscape.

Financial Performance

While specific financial details are not available in the current update, the company is reported to have demonstrated strong financial growth. This growth trajectory likely played a crucial role in the decision to go public.

Market Implications

The IPO filing by SS Retail reflects the growing interest in India's burgeoning mobile retail sector. As smartphone penetration continues to increase across the country, companies like SS Retail are well-positioned to capitalize on this trend.

Next Steps

With the draft papers now filed with SEBI, the regulatory body will review the documents. Investors and market watchers will be keenly awaiting further details about the company's financials, growth strategy, and the timeline for the IPO launch.

As more information becomes available, potential investors will be able to assess the company's market position, financial health, and growth prospects to make informed decisions about participating in the IPO.

Note: Investors are advised to review the detailed IPO documents and consult financial advisors before making investment decisions.

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.