SS Retail, a multi-brand retail chain selling mobile phones, accessories and other electronic products, has filed draft red herring prospectus (DRHP) with SEBI to raise up to ₹500 crore through an initial public offering (IPO).
According to the DRHP filed on December 27, the proposed IPO comprises:
- Fresh issue of shares worth ₹300 crore, and
- Offer for sale (OFS) of ₹200 crore by existing shareholders, including promoters.
The company may also consider a pre-IPO placement of up to ₹60 crore, which will be part of the fresh issue component, prior to filing the Red Herring Prospectus with the Registrar of Companies.
Store Network and Market Presence
SS Retail currently operates across four states — Maharashtra, Karnataka, Madhya Pradesh and Goa.
- Stores as of March 2025: 347
- Stores as of November 2025: 451
- Stores in Maharashtra: 334
The company claims to be the largest mobile phone retail chain in West India and the fourth-largest in India among its peers.
Use of IPO Proceeds
The company plans to utilise the net proceeds from the fresh issue as follows:
- ₹12.4 crore for setting up new stores
- ₹201.5 crore towards incremental working capital requirements
- Remaining amount for general corporate purposes
Financial Performance
For the financial year ended March 2025, SS Retail reported:
- Net profit: ~₹40 crore, up 49.6% from ₹26.6 crore in FY24
- Revenue: ₹1,597.9 crore, a 32.4% increase from ₹1,206.7 crore
For the quarter ended June 2025:
- Profit: ₹14.8 crore
- Revenue: ₹497.6 crore
Competition and IPO Details
SS Retail competes with players such as Umiya Mobile, Fonebox Retail, Bhatia Communications & Retail, Jay Jalaram Technologies, and Electronics Mart India.
Anand Rathi Advisors and Emkay Global Financial Services are the book-running lead managers to the issue.
