SS Retail’s IPO Price Band fixed at Rs403 to Rs424
FinTech BizNews Service
September 10, 2026: SS Retail Limited announced its initial public offering of Equity Shares (IPO). Details: The Offer comprises Fresh Issue of Equity Shares aggregating up to Rs3,600.00 million, and an Offer for Sale of Equity Shares aggregating up to Rs1,400.00 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.
Mr. Siddharth Gunvant Shah, Chairman and Managing Director, SS Retail
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 Rs1,46,347.03 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.
BRLMs are Anand Rathi Advisors Limited & Emkay Global Financial Services Limited.
