SS Retail IPO Day 3: Issue subscribed 14.45 times; GMP signals to 32% potential listing premium

The SS Retail IPO enters its final day of bidding on September 18, drawing strong investor interest. The issue has been subscribed 14.45 times so far, against the 87.93 lakh shares on offer. In the grey market, the IPO’s premium (GMP) of Rs 137 per share indicates a potential listing gain of around 32% over the upper end of the price band.

The Rs 500-crore book-built IPO comprises a fresh issue of 85.08 lakh shares aggregating to Rs 360 crore, along with an offer for sale (OFS) of 33.02 lakh shares worth Rs 140 crore.

The allotment is expected to be finalised on September 21, 2026, while the shares are proposed to be listed on both the NSE and BSE on September 23, 2026.

SS Retail IPO Subscription Status

On the third day of bidding, as of 11:30 am, the SS Retail IPO was subscribed 14.45 times, with bids received for the 87.93 lakh shares on offer.

Retail Individual Investors (RIIs): The retail portion was subscribed 14.58 times against 42.38 lakh shares reserved for the category.

Non-Institutional Investors (NIIs): The NII portion was subscribed 9.91 times against 18.16 lakh shares on offer.

Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 23% against 24.21 lakh shares reserved for the category.

Retail investors continued to show strong participation, while QIB subscription remained below the total shares reserved for the category.


Read more: NSE IPO Tracker: Catch all the updates here

SS Retail IPO GMP Today

The SS Retail IPO is commanding a grey market premium of Rs 80 per share. At the upper price band of Rs 424, this translates into a premium of approximately 19%.

Based on the prevailing GMP, the estimated listing price works out to around Rs 504 per share.

However, the grey market is unofficial and its premium can fluctuate. GMP indications should therefore not be treated as a guarantee of the actual listing price.

Read more: NSE IPO Day 2: GMP at 8%, subscription reaches 44% — Should you apply?

SS Retail IPO Price Band and Lot Size

SS Retail has fixed the IPO price band at Rs 403-424 per share. The lot size is 35 shares, requiring retail investors to make a minimum investment of Rs 14,840 at the upper end of the price band.

Anand Rathi Advisors Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar.

IPO Objects of the Issue

The company plans to use the net proceeds primarily to fund its incremental working capital requirements and capital expenditure. Around Rs 12.45 crore is earmarked for capital expenditure towards fit-outs of new stores planned for FY2027 and FY2028. The company intends to deploy Rs 241.35 crore towards part-funding its incremental working capital requirements, with the remaining proceeds allocated towards general corporate purposes.

About SS Retail

Incorporated in June 2016, SS Retail Ltd. operates a multi-brand retail chain focused on mobile phones, accessories and consumer electronics. The company operates across Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat, with a focus on Tier II, Tier III and smaller cities.

As of March 31, 2026, SS Retail operated 503 stores across 215 cities, covering approximately 2,41,365 sq. ft. under its brands SS Mobile, Mobile Exchange Wala and The Mobile Space. The store network expanded to 536 stores, covering 2,60,597 sq. ft., as of July 31, 2026.

SS Retail reported a 47% year-on-year increase in total income, which rose from Rs 1,600 crore in FY25 to Rs 2,353 crore in FY26. Profit after tax (PAT) increased 49% during the same period, rising from Rs 40 crore in FY25 to Rs 59 crore in FY26.

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