Patel Retail IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Apr 20, 2024Let’s have a detailed review of the company and analytics of the Patel Retail IPO release date, IPO offer price, subscription, Patel Retail Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs [●] |
| Listing At | BSE, NSE |
| Min. Order Quantity | NA Shares |
| Listing Date | NA |
| Offer for Sale | Rs Million |
| Fresh Issue | Rs Million |
| IPO Size | Rs Million |
| Tick Size | 1 |
Patel Retail IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Patel Retail Share Price |
Patel Retail IPO – Summary
They are primarily engaged as a retail supermarket chain operating in tier-III cities and nearby suburban areas, with a 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, the Company started its first store under the brand “Patel’s R Mart” at Ambernath, Maharashtra and since their operations are spread across the suburban area of Thane and Raigad districts in Maharashtra.
The promoters of this company are DHANJI RAGHAVJI PATEL AND BECHAR RAGHAVJI PATEL. The lead manager of the issue is Fedex Securities Private Limited, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Patel Retail IPO Date
The opening and closing dates of Patel Retail IPO are not available yet.
Patel Retail IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Patel Retail IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Patel Retail Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Patel Retail IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.[●]
Patel Retail IPO Equity Size
This Initial Public Issue of 1,00,20,000 Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] Million.
Patel Retail IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 90,18,000 Equity Shares of Rs.10/ each.
Issue Size: 1,00,20,000 Equity Shares of Rs.10 each, aggregating to Rs.[●] Million
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Patel Retail IPO – Live Performance
The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Patel Retail Share Price |
Patel Retail IPO Grey Market Premium
The Patel Retail Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Patel Retail IPO – Company Overview
Over the years they have emerged as a player managing one of the largest network stores in the MMR region. As of December 31, 2023, they operate and manage thirty-one (31)stores, with a Retail Business Area 28 of approx. 1,26,000 sq. ft.
With their objective to increase margin and to promote their brand “Patel’s R Mart”, they launched their private label goods comprising of Pulses (“Patel Fresh”) and spices (“Indian Chaska”), which they buy in bulk quantities and package and brand after their quality checks and inspections at their processing and packing facility at Ambernath, Maharashtra (“Facility 1”), and men wear (“Blue Nation”), home improving products (“PatelEssentials”), ready-to-cook / 28
The total built-up area of a store as per the lease/leave and license/sale agreement, as the case may be (carpet area * 1.64) 252instant mix (“Patel Fresh”), ghee and papad (“Indian Chaska”) which they buy from third-party vendors under their brands.
Since incorporation in Fiscal 2008, they have increased their store offerings and as of December 31, 2023, they offer around 38 product categories with over 10,000 product SKUs in their stores.
Patel Retail IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets |
28,045.49
|
30,311.99
|
27,386.63
|
24,668.95
|
| *Total Revenue |
44,681.97
|
1,01,980.36
|
77,183.58
|
82,775.34
|
| Total Expense |
43,366.44
|
99,755.63
|
75,654.32
|
81,220.23
|
| Profit After Tax |
977.98
|
1,637.97
|
1,137.03
|
1,149.74
|
Earnings per Equity Share (in Lakhs)
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
25.67
|
42.99
|
29.85
|
33.88
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1,637.97 Lakh, Rs. 1,137.03 Lakh and Rs. 1,149.74 Lakh respectively.
Patel Retail IPO – Promoters
The Promoter of this company is:
- DHANJI RAGHAVJI PATEL
- BECHAR RAGHAVJI PATEL
List of Related Parties (Key Managerial Personnel)
-
Dhanji Raghavji Patel, Chairman and Managing Director
- Bechar Raghavji Patel, Whole-time Director
-
Hiren Bechar Patel, Non-Executive Director
-
Yashwant Suresh Bhojwani, Independent Director
Patel Retail IPO – Promoters Holding
- Pre-Issue Share Holding – %
- Post-Issue Share Holding – %
Patel Retail IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 1,00,20,000 Equity Shares aggregating up to Rs.[●] Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 2,43,82,528 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Patel Retail IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Repayment/prepayment, in full or part, of certain borrowings availed of by their Company;
- Funding of working capital requirements of the Company; and
- General corporate purposes.
Patel Retail IPO – Business Strategy
- Further strengthen their market position by expanding their store network in existing clusters as well as new clusters
- Enhancing sales volumes by continuing to prioritise customer satisfaction
-
Further strengthening their procurement network and increasing their share of private labels
-
Continue to launch new products and enhance their customer base
Patel Retail IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Value retailing to a well-defined target consumer base
- Deep knowledge and understanding of optimal product assortment and stringent inventory management using IT systems
- Steady footprint expansion using a distinct store acquisition strategy and ownership model
- Their Presence
- Logistics and distribution network
- Diversified product portfolio
- Large-scale procurement and storage capabilities
- Consistent focus on quality
- Long Standing Relationship with their customers
- Strong promoter background and an experienced and entrepreneurial management team with a proven track record and a high degree of employee ownership
- Strong track record of growth and profitability
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
42.99
|
22.79%
|
29.48
|
| 31-Mar-22 |
29.85
|
20.36%
|
– |
| Mar-21 |
33.88
|
25.84%
|
– |
Patel Retail IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | CMP | |
| Patel Retail Limited | 10 | [●] |
6.72
|
22.79%
|
[●] |
| Listed Peers | |||||
| Avenue Supermarts Limited | 10 |
123.35
|
36.49
|
14.79%
|
4529.35 |
| Spencers Retail Limited | 5 | NA |
(23.37)
|
(139.83%) |
91.25
|
Patel Retail IPO Lead Managers
| Lead Managers |
| Fedex Securities Private Limited Address: B7, 3rd Floor, Jay Chambers, Dayaldas Road, Vile Parle (East), Mumbai-400057, Maharashtra, India Telephone:+91 8104985249; Email:mb@fedsec.in Contact person: Saipan Sanghvi Website:www.fedsec.in SEBI Registration No.: INM000010163 |
Patel Retail IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited Address: Office No S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai-400093, Maharashtra, India Telephone:022-62638200 Email:ipo@bigshareonline.com Investor Grievance email:investor@bigshareonline.com Contact person: Babu Rapheal Website: www.bigshareonline.com SEBI Registration No.: INR000001385 |
Patel Retail IPO – Other Details
- Statutory Auditor – Kanu Doshi Associates LLP, Chartered Accountants
- Legal Counsel to the Company – Crawford Bayley & Co., Advocates and Solicitors
- Bankers to the Company – Yes Bank Limited and HDFC Bank Limited
Patel Retail IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Patel Retail Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Patel Retail IPO Review FAQs
Check out various FAQs related to Patel Retail IPO:
What is the Issue Size of Patel Retail IPO?
The Company is making an initial public offer of 1,00,20,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Patel Retail IPO?
The price band for this particular IPO ranges between Rs NA. As far as the face value of the share is concerned, it is Rs. NA per share.
What is the Patel Retail IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Patel Retail IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Patel Retail IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Patel Retail IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Patel Retail IPO?
Here are the promoters of this IPO – DHANJI RAGHAVJI PATEL AND BECHAR RAGHAVJI PATEL. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Patel Retail IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Patel Retail IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Patel Retail Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 1,637.97, 2022 is 1,137.03, and 2021 is 1,149.74. PAT from Sep 2023 is 977.98.
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