Mobile phones retailer SS Retail files draft papers to raise Rs 500 crore via IPO

SS Retail IPO

SS Retail, the multi-brand retail chain for mobile phones, accessories and other electronic items, has filed preliminary papers with SEBI to raise funds up to Rs 500 crore via initial public offering (IPO).

The company with operations in four states - Maharashtra, Karnataka, Madhya Pradesh and Goa - proposed to mobilise Rs 300 crore via issuance of fresh shares, while existing shareholders including promoters will offload shares worth Rs 200 crore via offer-for-sale, said the company in its DRHP filed on December 27.

It may consider up to Rs 60 crore (out of fresh issue component) in pre-IPO round i.e. before the filing of Red Herring Prospectus with the Registrar of Companies for IPO launch.

SS Retail has operated 347 stores in India (including 334 stores in Maharashtra) by March 2025, which later increased to 451 stores by November 2025. It claims the largest mobile phone retail chain in West India, and the fourth largest in India amongst peers.

The company intends to spend Rs 12.4 crore of fresh issue proceeds for setting up of new stores, Rs 201.5 crore for incremental working capital requirements, and the remainder funds for general corporate purposes.

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SS Retail that competes with Umiya Mobile, Fonebox Retail, Bhatia Communications & Retail, Jay Jalaram Technologies, and Electronics Mart India has reported profit of nearly Rs 40 crore in the year ended March 2025, growing 49.6 percent over Rs 26.6 crore in previous year. Revenue in the same period surged 32.4 percent to Rs 1,597.9 crore, up from Rs 1,206.7 crore.

Profit for three months period ended June 2025 stood at Rs 14.8 crore on revenue of Rs 497.6 crore.

Anand Rathi Advisors, and Emkay Global Financial Services are appointed as the book running lead managers for the SS Retail IPO.