SS Retail IPO opens today: GMP signals 31% listing gain. Here's all you need to know

The SS Retail IPO opens for subscription today, September 16, 2026, giving investors a three-day window to place their bids. Ahead of the issue opening, the IPO is attracting strong market attention, with its grey market premium (GMP) currently indicating a potential listing gain of around 31%.

The SS Retail IPO is a book-built issue worth Rs 500 crore, comprising a fresh issue of 85.08 lakh shares aggregating to Rs 360 crore and an offer for sale (OFS) of 33.02 lakh shares worth Rs 140 crore.

The IPO will remain open for subscription until September 18, 2026, while the allotment is expected to be finalised on September 21, 2026. The shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for September 23, 2026.


SS Retail IPO has fixed its price band at Rs 403 to Rs 424 per share, with a lot size of 35 shares. Retail investors need to invest a minimum of Rs 14,840 for one lot, calculated 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 serving as the registrar.

SS Retail IPO GMP Today

The SS Retail IPO is currently commanding a Grey Market Premium (GMP) of Rs 128 per share, indicating a premium of approximately 30.19% over the upper price band of Rs 424. Based on the prevailing GMP, the estimated listing price is around Rs 552 per share. GMP is an unofficial market indicator and can change frequently; it should not be considered a guarantee of the actual listing price.

Objects of the Issue

The company proposes to utilise the net proceeds towards funding capital expenditure for fit-outs of new stores planned for FY2027 and FY2028, with an estimated allocation of Rs 12.45 crore.

The company also intends to use Rs 241.35 crore towards part-funding its incremental working capital requirements, with the balance proceeds allocated towards General Corporate Purposes. The total estimated utilisation of the Net Proceeds is Rs 253.80 crore.

Financial Performance

SS Retail Ltd. recorded a 47% increase in total income, rising from Rs 1,600 crore in FY25 to Rs 2,353 crore in FY26, reflecting strong year-on-year growth. The company’s profit after tax (PAT) jumped 49%, from Rs 40 crore in FY25 to Rs 59 crore in FY26, indicating improved profitability.

About SS Retail

Incorporated in June 2016, SS Retail Ltd. is a multi-brand retail chain offering mobile phones, accessories and consumer electronics across Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat. The Company primarily targets Tier II, Tier III and smaller cities. As of March 31, 2026, it 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 network expanded to 536 stores covering 2,60,597 sq. ft. as of July 31, 2026.

Its product portfolio includes smartphones, pre-owned phones, accessories, TVs, laptops and tablets, along with services such as protection plans, EMI facilities, anti-theft software and mobile recharge. We follow COCO, COFO, and FOFO retail formats and partner with local franchisees for regional expansion. During FY2026, it acquired a 51.04% stake in Olineo Nexus India Pvt. Ltd., adding 34 stores to its network.

As of March 31, 2026, SS Retail was the largest mobile phone retail chain in West India and Maharashtra and the third largest in India among its peers, as per the cited industry report. The Company had 689 permanent employees across various functions.

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