Patel Retail IPO

About Patel Retail IPO

(As on 19th August, 2025, 3:05 PM): Patel Retail Limited IPO is an IPO of 1.02 crore shares. It consists of an offer for sale of 1.002 crore shares aggregating up to ₹25.55 cr and a fresh issue of 90,18,000 crore shares, aggregating up to ₹215.91 cr. The shares will be allotted on Aug 22, 2025. The credit of shares to the demat account will take place on Aug 25, 2025 and the initiation of refunds will take place on Aug 25, 2025.

Objectives of Patel Retail IPO

• Repayment/prepayment, in full or part, of certain borrowings availed of by the company.
• Funding working capital requirements of the company.
• General corporate purposes.

Industry Outlook

The Indian retail industry is a key driver of the Indian economy, and contributes to the Indian economy in a big way. It contributed around 10% to the country’s total GDP and employs around 8% of the total workforce. The sector is growing at a fast pace being influenced by rapid urbanization, a growing middle class, a steady increase in national wages and disposable incomes, and expanding consumer spending. Furthermore, the government’s steady efforts to improve India’s ease of doing business and to strengthen the overall digital ecosystem have facilitated the entry of foreign investors in India which today have better access to connected rural consumers than before. The sector is thus poised to grow at a projected rate of 8% between 2022-2027 to USD 1.100 Bn by 2027 and further at 13% CAGR between 2027-2032 to USD 2000 Bn, from an estimated market size of USD 750 Bn in 2022.

Patel Retail Limited Company Information

The company is a retail supermarket chain operating in tier-III cities and nearby suburban areas, with focus on “value retail”, offering food, non-food (FMCG), general merchandise and apparel catering to the needs of the entire family. Incorporated in fiscal 2008, their company started its first store under the brand “Patel’s R Mart” at Ambernath, Maharashtra and ever since their operations have spread across the suburban area of Thane and Raigad district in Maharashtra.

Risks of Patel Retail IPO

• Concentration of stores in Thane and Raigad district

• Subject to seasonal variations

• Natural or man-made disasters

• Reduction in revenue from operations

• Statutory and regulatory permits

• High debt to equity ratio

• No long-term agreements with suppliers

• Competitive Markets

• Negative cash flows in the past

• Inability to protect intellectual property rights

Anchor Investor Information

The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date.

IPO Registrar and Book Running Lead Managers

Book running lead manager:
Fedex Securities Private Limited

Registrar for the IPO is Bigshare Services Private Limited

Patel Retail Limited Company Business Model

The company earns its revenue through the following sources:

• Providing a dependable neighbourhood supermarket that offers customers a distinctive shopping experience, comprising of a wide range of everyday value retail products sold in a modern ambience and with the feel of a retail mall.

• They earn rental income from vendors as display and listing income, shop-in-shop arrangements such as, vegetable stall, sandwich, chat and ice cream stalls.

• With respect to branded sales, they manufacture and market spices, wheat flour and refined wheat flour, pulses, staples and groceries and mango pulp under their own brands.

• They export whole spice, powder spices, pulses, staples and groceries and wheat flour in bulk form to players operating with their own brands, to those who sell these products in unbranded or loose form, they also export whole spices and powder spices under their brand ‘Indian Chaska’ and wheat flour, pulses, staples and groceries under the brand ‘Patel Fresh’.

• They undertake export and domestic trading of assorted/mix container of food products and non-food products.

Patel Retail Limited Company Growth Trajectory

The company’s total revenue grew at a CAGR of 11.00% from ₹82,775.34 lakhs in fiscal 2021 to ₹1,01,980.36 lakhs in fiscal 2023. Their EBITDA grew at a CAGR of 24.86% from ₹2,773.69 Lakhs in fiscal 2021 to ₹4,323.96 lakhs in fiscal 2023. Their net profit after tax, as restated, grew at a CAGR of 19.36% from ₹1149.74 lakhs in fiscal 2021 to ₹1637.97 lakhs in fiscal 2023. In fiscal 2023, fiscal 2022 and fiscal 2021 and in the six months period ended September 30, 2023, they generated ₹66,962.58 lakhs, ₹46,767.38 lakhs, ₹53,472.70 lakhs and ₹24,567.11 lakhs, respectively, from export sales (processing plus trading sales), representing approximately 65.74%, 61.04%, 64.94% and 55.09%, respectively, of their revenue from operations.

Patel Retail Limited Company Market Position

Over the years, Patel Retail Limited has emerged as a player managing one of the largest network stores in the MMR region (source: D&B Report). As on December 31, 2023 they operate and manage thirty-one (31) stores, with a Retail Business Area 28 of approx. 1,26,000 sq. ft.

How To Check Allotment Status of Patel Retail Limited IPO?

You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar Bigshare Services Private Limited. To check the status on the BSE website:

• Visit the BSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is Patel Retail Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the Bigshare Services Private Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select Patel Retail Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status