Patel Retail IPO sees strong demand, fully booked on Day 1; GMP at 18%

Patel Retail IPO subscription status Day 1: The issue received bids for 34.55 million equity shares compared to the issue size of 7.81 million shares

Patel Retail IPO subscription status Day 1: The initial public offering (IPO) of retail supermarket chain Patel Retail opened for subscription today, August 19, 2025. The mainboard public issue is receiving a solid response from investors, as the issue was fully subscribed within a few hours after opening. The issue was subscribed around 4.5 times as of 2:30 PM on Tuesday, according to data from the National Stock Exchange. 

 

The issue received bids for 34.55 million equity shares compared to the issue size of 7.81 million shares. The demand was primarily driven by qualified institutional buyers (QIBs) who subscribed to the allotted quota by 9 times, followed by non-institutional investors (NIIs) at 4.43 times, retail investors at 3.23 times, and the employees' quota was booked 2.23 times. 

Patel Retail IPO GMP

On Tuesday, the unlisted shares of Patel Retail were trading at ₹301, commanding a premium of ₹46 or 18 per cent compared to the upper end of the price band of ₹237 to ₹255.

Patel Retail IPO Review 

Analysts at Anand Rathi Research assigned a 'Subscribe for long term' rating to the Patel Retail IPO, citing the company's deepening market penetration and expansion of its store network. However, Arihant Capital assigned a Neutral rating to the IPO. READ MORE  ALSO READ | Patel Retail IPO: Analysts offer mixed views; should you apply?

Patel Retail IPO details

The three-day subscription window for the initial public offering will close on Thursday, August 21, 2025. The basis of allotment of shares is likely to be finalised on Friday, August 22, 2025. Shares of Patel Retail will be listed on the bourses, BSE and NSE, tentatively on Tuesday, August 26, 2025.

 

Patel Retail IPO, worth ₹242.76 crore, comprises a fresh issue of 8.5 million equity shares and an offer for sale (OFS) of 1 million equity shares. Dhanji Raghavji Patel and Bechar Raghavji Patel are the promoter selling shareholders.

 

The company has reserved around 30 per cent of the issue for qualified institutional buyers (QIBs), 45 per cent for retail investors and 25 per cent for non-institutional investors (NIIs).  ALSO READ | Gem Aromatics IPO opens for bidding: GMP up 9%; should you apply or not? 

Patel Retail has set the price band in the range of ₹237 to ₹255 per share. Retail investors would require a minimum investment amount of ₹14,790 shares to bid for one lot comprising 58 shares each.  

 

Bigshare Services is the registrar of the issue. Fedex Securities is the sole book-running lead manager.

 

According to the red herring prospectus (RHP), the company proposes to utilise the net fresh issue proceeds for repayment or prepayment of debt, funding working capital requirements and general corporate purposes.