SS Retail IPO Day 2: Issue booked over 2x so far; check all category-wise subscription updates

The initial public offering (IPO) of SS Retail continues to see steady demand on the second day of subscription, as the issue has been booked 2.39 times so far on Thursday, September 17.

Until 11:45 AM, the initial share sale of the firm had received bids for 2.10 crore shares as compared to 87,93,884 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 2.82 times, while the retail individual investor (RII) segment saw 3.60 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion has been booked 0.2 times.

The ₹500 crore book build issue is a combination of the fresh issuance of 85.08 lakh shares totalling ₹360 crore and the offer for sale (OFS) of 33.02 lakh shares valued at ₹140 crore.

A lot consists of 35 shares and in multiples thereafter. Of the net issue, half is reserved for QIBs, 15% for NIIs and 35% for retail investors.

Through the OFS route, promoters Harshal Kishor Parekh, Bhavini Harshal Parekh, Siddharth Gunvant Shah and Deepa Siddharth Shah, and investor Rakhi Narendra Firodia will sell their stake.

"Our company expects to receive the benefits of listing of the equity shares on the stock exchanges and enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India," the firm said in its red herring prospectus (RHP).

Ahead of the IPO, the multi-brand mobile retail garnered ₹146.4 crore by issuing 34.52 lakh shares to 14 institutional investors through its anchor book.

SS Retail IPO Objective

The money raised from the IPO will be used towards the following objectives:

SS Retail IPO: Allotment and listing date

About SS Retail

SS Retail is a Kolhapur-based multi-brand retailer of mobile phones, accessories and other electronic products. The company was incorporated in June 2016 and has successfully expanded its network from 236 stores across 109 cities in March 2024 to 503 stores across 215 cities by March 2026, representing a 45.9% store-count CAGR. 

The company operates principally through SS Mobile, The Mobile Space and Mobile Exchange Wala. In March 2026, SS Mobile had 401 stores, including 71 with Mobile Exchange Wala counters; the Mobile Space had 68 stores, alongside Olineo’s 34 outlets.

SS Retail operates in organised mobile-phone and consumer-electronics retail, with a primary focus on mobile phones and accessories. The firm procures products from brands, distributors, and authorised dealers through central inventory and an enterprise system.

The company has three warehouses and four logistics provider arrangements in the distribution and finance provider kiosk in the store to enable instalment payments for customers. The company will be listed both on the National Stock Exchange and the Bombay Stock Exchange.