Patel Retail Subscription
Last updated on 21-Aug-2025 14:06:09
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1137512 | 37506860 | 32.97 |
| HNIs | 2368250 | 197269658 | 83.3 |
| HNIs 10+ | 1579149 | 122082576 | 77.31 |
| HNIs 2+ | 789101 | 75187082 | 95.28 |
| Retail | 4262850 | 144629206 | 33.93 |
| Employees | 51000 | 1005604 | 19.72 |
| Total | 7819612 | 380411328 | 48.65 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 1945 | 29481 | 15.16 |
| HNIs (2-10L) | 972 | 89072 | 91.64 |
| Retail | 73497 | 2110061 | 28.71 |
| Employee | - | 12861 | - |
| Total Applications: 2241475 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 29.01 | 956.42 | 32.97 |
| FIIs | - | 259.19 | - |
| DIIs | - | 172.78 | - |
| Mutual funds | - | 0 | - |
| Others | - | 524.45 | - |
| HNIs | 60.39 | 5030.38 | 83.3 |
| HNIs 10+ | 40.27 | 3113.11 | 77.31 |
| HNIs 2+ | 20.12 | 1917.27 | 95.28 |
| Retail | 108.7 | 3688.04 | 33.93 |
| Employees | 1.3 | 25.64 | 19.72 |
| Total | 199.4 | 9700.49 | 48.65 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹11.3 | @8% ₹12.9 | @9% ₹14.5 | @10% ₹16.1 | @11% ₹17.7 | @12% ₹19.3 |
Patel Retail About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 58 | 14790 | 73497 |
| sHNI | 14 | 812 | 207060 | 972 |
| bHNI | 68 | 3944 | 1005720 | 1945 |
Patel Retail IPO Details
| Total Issue Size | 95,20,000 shares (aggregating up to ₹242.76 Cr) |
| Fresh Issue | 85,18,000 shares (aggregating up to ₹217.21Cr) |
| Offer for Sale | 10,02,000 shares of ₹10 (aggregating up to ₹25.55 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,48,82,528 shares |
| Share Holding Post Issue | 3,34,00,528 shares |
Patel Retail IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 30% of the Net Offer |
| Retail Shares Offered | Not less than 45% of the Net Offer |
| NII Shares Offered | Not less than 25% of the Net Offer |
| Employee Quota | Yes |
Key Performance Indicator
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 19.02% | 24.24% | 23.66% |
| ROCE | 14.43% | 15.10% | 12.66% |
| RONW | 19.02% | 24.24% | 23.66% |
| D/E | 1.34 | 1.97 | 2.54 |
| EPS (basic) | 10.3 | 9.24 | 6.72 |
| P/E Pre IPO | 25.1 | ||
| P/E Post IPO | 33.69 |
Financial Details In Crores
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 382.9 | 333.0 | 303.1 |
| Total Income | 826.0 | 817.7 | 1019.8 |
| Profit After Tax | 25.3 | 22.5 | 16.4 |
| EBITDA | 62.4 | 55.8 | 43.2 |
| Net Worth | 134.6 | 94.4 | 71.9 |
| Total Borrowing | 180.5 | 185.8 | 182.8 |
Peer Comparison (Valuation)
| Company Name | P/E (x) | CMP* (₹) | Face value (₹) |
|---|---|---|---|
| Patel Retail | - | - | 10 |
| Vishal Mega Mart (Consol) | 104.73 | 146.62 | 10 |
| Avenue Supermarts (consol) | 102.33 | 4,257.80 | 10 |
| Spencers Retail (consol) | NA^ | 57.2 | 5 |
| Osia Hyper Retail | 8.73 | 12.75 | 1 |
| Aditya Consumer Marketing# | NA^ | 42.71 | 10 |
| Sheetal Universal | 15.58 | 126.5 | 10 |
| Kovilpatti Lakshmi Roller Flour Mills | 101.61 | 129.05 | 10 |
| KN Agri Resources | 17.01 | 251 | 10 |
| Madhusudhan Masala | 12.92 | 141.2 | 10 |
Source: RHP; P/E of peers based on *CMP on BSE on Aug 05, 2025; # not traded on August 5, 2025 on BSE, CMP as on August 04,2025. ^ Earnings / Net worth of the peer companies are negative, hence P/E ratio and Return on Net Worth has not been calculated.
Peer Comparison (Financial Performance)
| Company Name | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Patel Retail | 54.08 | 19.02% | 10.3 |
| Vishal Mega Mart (Consol) | 13.92 | 9.87% | 1.4 |
| Avenue Supermarts (consol) | 329.27 | 12.64% | 41.61 |
| Spencers Retail (consol) | -73.4 | -37.24% | -27.33 |
| Osia Hyper Retail | 23.85 | 4.97% | 1.46 |
| Aditya Consumer Marketing# | 14.14 | -18.51% | -2.62 |
| Sheetal Universal | 38.27 | 21.44% | 8.12 |
| Kovilpatti Lakshmi Roller Flour Mills | 73.92 | 1.72% | 1.27 |
| KN Agri Resources | 140.6 | 10.50% | 14.76 |
| Madhusudhan Masala | 64.73 | 16.04% | 10.93 |
About Company
Incorporation Year: 2008
Business Model: Retail supermarket chain focused on tier-III cities and suburban areas
Brand Name: Patel’s R Mart
Store Count (as of May 31, 2025): 43 stores
Retail Area: Approx. 1,78,946 sq. ft.
Geographic Presence: Thane & Raigad districts, Maharashtra
Product Portfolio
Offerings include food, FMCG, general merchandise, and apparel
Private Labels:
Patel Fresh – Pulses and ready-to-cook items
Indian Chaska – Spices, ghee, and papad
Blue Nation – Men’s wear
Patel Essentials – Home improvement products
10,000 SKUs across 38 product categories
Manufacturing & Backward Integration
Facility 1 (Ambernath, Maharashtra): Packaging and processing of private labels
Facility 2 (Dudhai, Gujarat): Processing agri-products like peanuts, coriander, cumin
Facility 3 – Agri-Processing Cluster (Dudhai, Gujarat):
15.925-acre integrated cluster with 5 production units, fruit pulp unit, dry warehouse (3,040 MT), cold storage (3,000 MT), and in-house testing lab Facility 2 and 3 together are known as the Kutch Facilities
Strength
Retail Expertise: IT-driven inventory and assortment management.
Expansion Strategy: Unique store acquisition model.
Supply Chain: Own logistics + strategically located manufacturing
Weakness
High Competition – Intense rivalry from local and national retailers may affect sales and profitability.
Supply Chain Bottlenecks – Dependence on owned logistics fleet can lead to disruptions.
Commodity Price Volatility – Fluctuating prices of agri-inputs can impact processing margins.
Patel Retail Lead Manager(s)
Patel Retail Address
Plot No. M-2, Anand Nagar,
Additional MIDC, Ambernath (East)- 421506,
Ambernath, Maharashtra, India
Ambarnath, Maharashtra, 421506
Phone: +91 7391043825
Email: cs@patelrpl.net
Website: https://patelrpl.in/