SS Retail Limited Announced its Initial Public Offerings (IPO) to open on Wednesday, September 16, 2026 Price Band fixed at ₹403 to ₹424 per equity share of face value of ₹10 each

Caption: Left to Right: Mr. V Prashant Rao, Executive Director and Head ECM, Anand Rathi Advisors Limited, Mr. Harshal Kishor Parekh. Whole Time Director, SS Retail Limited
Mr. Sagar Patil, Whole-time Director and Chief Financial Officer, SS Retail Limited
Mr. Siddharth Gunvant Shah, Chairman and Managing Director, SS Retail Limited
Mrs. Deepa Siddharth Shah, Whole-time Director, SS Retail Limited, Mr. Yatin Singh, CEO-Investment Banking , Emkay Global Financial Services Limited announced its IPO press conference in Mumbai – Sumant Gajinkar GNI

Caption: Mr. Siddharth Gunvant Shah, Chairman and Managing Director, SS Retail Limited

SS Retail Limited’s IPO to open on Wednesday, September 16, 2026

Price Band fixed at ₹403 to ₹424 per equity share of face value of ₹10 each (Equity Share)
Eligible Employees applying in the Employee Reservation Portion can apply at a discount of ₹ 25 per Equity Share to Offer Price
Anchor Investor Bidding Date – Tuesday, September 15, 2026
Bid /Offer Opening Date – Wednesday, September 16, 2026, Bid/ Offer Closing Date – Friday, September 18, 2026
Bids can be made for a minimum of 35 Equity Shares and in multiples of 35 Equity Shares thereafter
Red Herring Prospectus link: https://ssmobile.com/aboutus/investor/keyDocuments.php
September 10, 2026: SS Retail Limited (‘Company’ or ‘SS Retail’) announced its initial public offering of Equity Shares (IPO). Details: The Offer comprises Fresh Issue of [.] Equity Shares aggregating up to ₹3,600.00 million, and an Offer for Sale of [.] Equity Shares aggregating up to ₹1,400.00 million by the Promoter Selling Shareholders viz., Siddharth Gunvant Shah, Deepa Siddharth Shah, Harshal Kishor Parekh, Bhavini Harshal Parekh, and the Other Selling Shareholder viz., Rakhi Narendra Firodia.
SS Retail is a multi-brand retail chain for mobile phones, accessories and other electronic items, with operations in 5 states i.e., Maharashtra, Karnataka, Madhya Pradesh, Goa, and Gujarat (commenced in Fiscal 2027)
SS Retail deals in multiple product categories across different types of cities such as metro cities, mini metro cities, tier I cities, tier II cities and tier III and beyond cities. However, its focus has been on retailing mobile phones and accessories in tier II and tier III and beyond cities. As of March 31, 2026, the Company operated 503 stores in India, and 458 stores in Maharashtra, which as per the Knowledge Company Report, positioned it as the largest mobile phone retail chain in West India (i.e., Gujarat, Maharashtra, Goa, Madhya Pradesh, Dadra & Nagar Haveli and Daman & Diu) and in Maharashtra and the 3rd largest in India, amongst its peers.
Over the years the Company has scaled its operations and increased its store count from 236 stores across 109 cities as of March 31, 2024, to 503 stores across 215 cities as of March 31, 2026 at a CAGR of 45.99%, positioning the Company as one of the fastest growing mobile retail chains, as per the Knowledge Company Report. Further, as per the Knowledge Company Report, this growth rate is not only the 2nd highest amongst its peers but also ~2.4X the peer average of 19.29% for the same period. The Company’s stores as of March 31, 2026, were spread across 2,41,365 square feet, and as per the Knowledge Company Report, its sales per square feet of ₹1,46,347.03 in Fiscal 2026 was the highest among its peers, highlighting efficient space utilisation and store productivity across its store formats
The Company operates primarily through its 3 brands viz., ‘SS Mobile’, ‘Mobile Exchange Wala’ and ‘The Mobile Space’. During Fiscal 2026, the Company has acquired 51.04% shareholding in Olineo Nexus India Private Limited (Olineo), which operates in a similar line of business. Olineo has 34 stores as of March 31, 2026, all of which operate in Maharashtra. During Fiscal 2026, the Company has also acquired the brand “GIZMORE”, a B2B retail accessories brand.
The Equity Shares are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited (NSE). For the purpose of the Offer, NSE shall be the Designated Stock Exchange.
The Offer is being made through Book Building Process, in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs) (such portion referred to as QIB Portion), provided that our Company, in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (Anchor Investor Portion). 40% of the Anchor Investor Portion shall be reserved as follows: (i) 33.33% shall be reserved for domestic Mutual Funds; and (ii) 6.67% shall be reserved for life insurance companies registered with the Insurance Regulatory and Development Authority of India under the provisions of the Insurance Act, 1938 and pension funds registered with the Pension Fund Regulatory and Development Authority under the provisions of the Pension Fund Regulatory and Development Authority Act, 2013, subject to valid Bids being received from them at or above the Anchor Investor Allocation Price. Any undersubscription in the reserved category for life insurance companies and pension funds may be allocated to domestic Mutual Funds. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (Net QIB Portion). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors (NIIs) (Non-Institutional Category) out of which (a) one-third of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than ₹ 0.2 million and up to ₹ 1.00 million; and (b) two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than ₹ 1.00 million, and under subscription in either of these two sub-categories of the Non-Institutional Category may be allocated to Bidders in the other sub-category of the Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors (RIIs) (Retail Category), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price.
All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (ASBA) process and shall provide details of their respective bank account (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter), in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks or by the Sponsor Bank(s), as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.ends GNI