Here’s a comprehensive breakdown of Patel Retail Limited IPO, based on the most recent information
Patel Retail Limited, operating as the Patel’s R Mart supermarket chain, is launching its IPO at a competitive price band of ₹237–₹255.
Strong retail presence, a growing financial profile, and a mix of fresh capital with promoter sell-off lend structure to this offering. Funds will be strategically used for debt reduction and operational expansion.
Established: 2008; first store in Ambernath, Maharashtra
Presence: 43 stores across Thane & Raigad as of May 31, 2025, with ~178,946 sq. ft. retail space
Product Range: Operates in ~38 categories, over 10,000 SKUs; includes private labels such as Patel Fresh, Indian Chaska, Blue Nation, and Patel Essentials
Exports & Trading: Processes and ships staples, pulses, spices, FMCG, and agricultural commodities to 35+ countries
IPO Dates
- Opening Date: August 19, 2025
- Closing Date: August 21, 2025
- Anchor Investor Bidding: Begins August 18, 2025
- Basis of Allotment: August 22, 2025
- Refunds & Demat Credits: August 25, 2025
- Listing Date: August 26, 2025
IPO Details
- Face Value: ₹10 per share
- Total Issue Size (at upper price band): ~₹217.2 crore, which includes an Offer for Sale (OFS) of ~₹25.56 crore by existing promoters
- Price Band: ₹237 to ₹255 per share
- Lot Size: 58 Shares
- 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
GMP of Patel Retail Limited IPO
As of now (August 11, 2025), there’s no confirmed information available on the Grey Market Premium (GMP) for the Patel Retail Limited IPO.
- A specialized IPO-tracking blog notes that the GMP for Patel Retail hasn’t been confirmed yet and typically only becomes visible 3–5 days before the subscription window opens.
- Even broader platforms tracking GMP data currently show Patel Retail IPO with no listed GMP value or percentage.
Promoters of Patel Retail Limited
Here are the promoters of Patel Retail Limited (the Patel’s R Mart chain) along with their roles and background:
1. Dhanji Raghavji Patel
- Role: Chairman and Managing Director, involved since the company’s inception.
- Experience: Over 25 years in the business domain. Instrumental in expanding the company’s food processing and non-retail verticals (exports, manufacturing) despite not holding formal educational qualifications.
2. Bechar Raghavji Patel
- Role: Whole-time Director and promoter, associated since inception.
- Background: Over 25 years of industry experience; key in establishing and growing the retail supermarket chain. Also does not hold formal educational qualifications.
3. Hiren Bechar Patel
- Role: Promoter and Non-Executive Director.
- Contribution: With over 10 years in the industry, he advises the company on liaisoning with various statutory authorities and has been part of the company since its early days. Also lacks formal educational qualifications.
At a glance:
| Promoter | Role | Experience / Contribution |
|---|---|---|
| Dhanji R. Patel | Chairman & Managing Director | Expanded food processing, exports; >25 years in business |
| Bechar R. Patel | Whole-time Director | Built the retail chain; >25 years in industry |
| Hiren B. Patel | Non-Executive Director | Manages regulatory liaison; >10 years with the company |
Patel Retail Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 58 | ₹14,790 |
| Retail (Max) | 13 | 754 | ₹1,92,270 |
| S-HNI (Min) | 14 | 812 | ₹2,07,060 |
| S-HNI (Max) | 67 | 3,886 | ₹9,90,930 |
| B-HNI (Min) | 68 | 3,944 | ₹10,05,720 |
Patel Retail Limited IPO Promoter Holding
Here’s the promoter holding information for Patel Retail Limited (IPO) as sourced from the Red Herring Prospectus and investor data:
| Share Holding Pre Issue | 97.99% |
| Share Holding Post Issue | 70.01% |
About Patel Retail Limited
1. Company Origins & Presence
- Founded in 2008, Patel Retail a small grocery store in Ambernath, Maharashtra.
- Its flagship retail brand, Patel’s R Mart, now operates 43 stores across Thane and Raigad in Maharashtra, covering around 178,946 sq ft as of May 31, 2025.
2. Business Operations
Private Labels: Developed several in-house brands:
- Patel Fresh (pulses, ready-to-cook)
- Indian Chaska (spices, ghee, papad)
- Blue Nation (men’s apparel)
- Patel Essentials (home improvement)
Manufacturing & Processing:
- Ambernath, Maharashtra: Processing and packaging private-label products.
- Dudhai, Kutch, Gujarat: An advanced agri-processing hub including multiple production units, cold storage, R&D labs, and more.
Exports & Trading: Exports staples, pulses, spices, and pulps under its own and client brands. Active in domestic and international bulk trading of commodities like rice, sugar, and edible oil.
Summary Table
| Aspect | Details |
|---|---|
| Founded | 2008, Ambernath, Maharashtra |
| Stores | 43 outlets across Thane and Raigad |
| Retail Area | ~178,946 sq ft |
| Products | 38 categories, 10,000+ SKUs |
| Key Private Labels | Patel Fresh, Indian Chaska, Blue Nation, Patel Essentials |
| Processing Facilities | Ambernath (packaging), Kutch (agri-processing cluster) |
| Exports & Trading | Staples, pulses, spices; domestic & export commodity trading |
| Revenue Growth | FY23: ₹1,018.6 Cr (+33%) |
| Profit Growth | FY23: ₹16.4 Cr (+44%) |
| Margins (FY25) | EBITDA: 7.61% |
| D/E Ratio (FY25) | 1.34 |
| Expansion Target | 150 stores across Maharashtra by 2030 |
Patel Retail Limitd Financial Information
Here’s a refined financial overview of Patel Retail Limited, based on the latest provisional and audited figures (2023, 2024 and 2025):
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹382.86 Crore | ₹333.02 Crore | ₹303.12 Crore |
| Total Income | ₹825.99 Crore | ₹817.71 Crore | ₹1,019.80 Crore |
| Profit After Tax | ₹25.28 Crore | ₹22.53 Crore | ₹16.38 Crore |
| EBITDA | ₹62.43 Crore | ₹55.84 Crore | ₹43.24 Crore |
| Net Worth | ₹134.57 Crore | ₹94.40 Crore | ₹71.87 Crore |
| Total Borrowing | ₹180.54 Crore | ₹185.75 Crore | ₹182.81 Crore |
Key Performance Indicator (KPI)
Here’s a structured overview of Patel Retail Limited’s Key Performance Indicators (KPIs), highlighted with a detailed table drawing from the latest available data:
| KPI | Value |
|---|---|
| EBITDA Margin | 4.25% |
| PAT Margin | 1.61% |
| Return on Capital Employed (ROCE) | 12.66% |
| Return on Net Worth (ROE) | 23.66% |
| Net Debt to Equity | 2.54× |
- PAT Margin (FY 2025): 3.08%
- Total Debt / Tangible Net Worth: 1.36×
- Interest Coverage (PBDIT/Interest): 3.64×
- Current Ratio: 1.31×
Summary
- Profitability (EBITDA & PAT margins) has improved over time.
- Efficiency shown by a declining Net Debt to Equity ratio and rising interest coverage.
- Return Metrics (ROCE, ROE) are strong, indicating effective utilization of capital and equity.
- Liquidity is stable, with a current ratio comfortably above 1.
Strengths of Patel Retail Limited IPO
Strong regional footprint
With 43 stores across Thane and Raigad as of May 2025 and plans to scale further, Patel Retail leverages a cluster-based expansion strategy in densely populated suburban areas.
Backward integration & private labels
The company owns and operates processing units and an agri-processing cluster, enhancing control over quality and supply. Its private label brands—Patel Fresh, Indian Chaska, Blue Nation, and Patel Essentials—contribute over 17% of retail revenue in FY25, boosting margins and brand identity.
Robust logistics infrastructure
Patel Retail has its own distribution center and a fleet of 18 trucks, improving operational efficiency and supply chain control.
Diversified business mix
The company combines retail operations, exports, bulk commodity trading, and manufacturing—spanning food, FMCG, general merchandise, and apparel—creating multiple revenue streams.
Improving profitability and capital structure
Financials show growth in EBITDA margin (to 7.61%) and PAT margin (3.08%) in FY25, along with a healthier debt-to-equity ratio of 1.34 (down from 1.97). Return on Capital Employed (ROCE) remains strong at 14.43%.
Risks of Patel Retail Limited IPO
Heightened competition from e-commerce
The Indian retail space is increasingly contested by e-commerce players. Failure to effectively integrate online channels could impact growth and profitability.
Macroeconomic and inflation concerns
Rising inflation in India could squeeze margins and dampen consumer demand, especially in a value-driven retail segment.
Contingent liabilities
The IPO prospectus includes nondisclosed contingent liabilities that, if realized, could adversely affect the company’s finances.
Summary Table
| Strengths | Risks |
|---|---|
| Strong local presence and cluster-based expansion | Competition from e-commerce platforms |
| Backward integration, private labels, improved margins | Macroeconomic/ inflation impacts |
| Own logistics for supply chain efficiency | Contingent liabilities could emerge unexpectedly |
| Diverse business mix across retail, exports, and trading | |
| Improved financial metrics and leverage ratios |
In essence, Patel Retail Limited presents a compelling combination of operational strengths—regional market insight, integrated value chain, improving margins—offset by external risks tied to competition and macroeconomic volatility.
Patel Retail Limited Contact Details
Here are the official contact details for Patel Retail Limited, as well as relevant information for IPO-related queries:
| Contact Type | Details |
|---|---|
| Registered Office Address | Plot No. M-2, Anand Nagar, Additional MIDC, Ambernath (East), Thane, Maharashtra – 421506 |
| Phone | +91 73910 43825 |
| Email (Company Secretary) | cs@patelrpl.net |
| Website | www.patelrpl.in |
IPO Registrar – Bigshare Services Pvt. Ltd.
| Contact Type | Details |
|---|---|
| Phone | +91-22-6263 8200 |
| ipo@bigshareonline.com | |
| Website | www.bigshareonline.com |
Supplier Liaison Contacts
- Export Supplies
- Name: Parimal Thakkar
- Email: parimal@patelrpl.net
- Mobile: +91 98193 90063
- Domestic Supplies
- Name: Angeline Nathan
- Email: angeline@patelrpl.net
- Mobile: +91 81087 71142
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