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Supermarket chain Patel Retail Ltd on Monday collected over ₹43 crore from anchor investors, ahead of its initial public offering (IPO) opening for subscription.
The investors participated in the anchor round included Chanakya Opportunities Fund, BNP Paribas Financial Markets, Maybank Securities, Beacon Stone Capital, Saint Capital Fund and Pine Oak Global Fund, according to a circular uploaded on BSE's website.
As per circular, the company allotted 17.04 lakh equity shares to investors at ₹255 apiece, aggregating the fund raising to ₹43.46 crore.
The company's IPO -- a mix of a fresh issue of 85.18 lakh shares and an offer for sale of 10.02 lakh shares of promoters -- will open for public subscription on August 19 and conclude on August 21. At the upper end of the price band, the company's public issue is expected to fetch ₹242.76 crore.
The company's shares will be available for subscription in the price band of ₹237 to ₹255 apiece.
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Proceeds from the fresh issuance will be used for payment of debt, funding of working capital requirements of the company and for general corporate purposes.
Patel Retail was established in 2008, launching its inaugural store in Ambernath, Maharashtra. Since then, it has expanded its operations throughout the suburban regions of Thane and the Raigad district in Maharashtra.
The company provides a diverse range of products including food, non-food items, general merchandise and apparel to meet the needs of families. It operates in tier-III cities and nearby suburban areas under the brand 'Patel's R Mart'. It operated and managed 43 stores as on May 31, 2025.
Patel Retail's revenue from operations increased to ₹820.69 crore in fiscal 2025 from ₹814.19 crore in the preceding financial year. Profit after tax rose to ₹25.28 crore from ₹22.53 crore.
Fedex Securities is the sole book-running lead manager, and Bigshare Services is the registrar of the offer. Shares of the supermarket chain are slated to begin trading on the bourses from August 26.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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