Patel Retail IPO closes today: Subscription nears 40x, GMP up 19%

Patel Retail IPO Day 3 update: Check latest latest subscription status, grey market premium (GMP), review, allotment date, listing date, and other key details here

Patel Retail IPO GMP today: The unlisted shares of Patel Retail, whose initial public offering (IPO) is set to close for subscription today, August 21, 2025, were commanding a strong premium in the grey market. Sources tracking unofficial market activities revealed that Patel Retail shares were trading at ₹303 apiece, reflecting a grey market premium (GMP) of ₹48 or 18.82 per cent against the upper end of the IPO price band of ₹255.

Patel Retail IPO subscription status

The public offering has received a favourable response from investors so far. According to data available on the NSE, the public issue Patel Retail has received bids for 31,09,82,486 equity shares against 78,15,612 shares on offer, resulting in a subscription of 39.79 times as of around 01:05 PM on August 21.

 

 

Among individual investor categories, the quota reserved for non-institutional investors (NIIs) saw the highest demand and was subscribed 67.86 times. This was followed by retail investors and qualified institutional buyers (QIBs), who subscribed their respective portions 30.11 times and 18.58 times, respectively.

Patel Retail IPO details

Valued at around ₹242.76 crore, the public offering comprises a fresh issue of 8.5 million equity shares and an offer for sale (OFS) with promoters Dhanji Raghavji Patel and Bechar Raghavji Patel divesting up to 1 million equity shares.  Patel Retail IPO is being offered at a price band of ₹237-255 per share, with a lot size of 58 shares. Retail investors would require a minimum of ₹14,790 at the upper-end price to bid for one lot of Patel Retail IPO and can bid for a maximum of 13 lots or 754 shares, amounting to ₹1,92,270.

Patel Retail IPO review

The company has received mixed reviews for its public offering. Analysts at Arihant Capital have assigned a ‘Neutral’ rating on the Patel Retail IPO, while those at Anand Rathi Research have recommended investors subscribe for the long term.

Patel Retail IPO key dates

As the subscription window for the public issue closes today, the basis of allotment of Patel Retail IPO shares is likely to be finalised on Friday, August 22, 2025. The successful allottees will receive the company’s shares in their demat accounts tentatively on Monday, August 25, 2025.

 

Shares of Patel Retail are set to make their market debut by Tuesday, August 26, 2025.

About Patel Retail

Patel Retail Limited is primarily engaged as a retail supermarket chain operating in tier-III cities and nearby suburban areas, with a focus on 'value retail', offering food, non-food (FMCG), general merchandise, and apparel catering to the needs of the entire family. Incorporated in Fiscal 2008, the company started its first store under the brand 'Patel’s R Mart' at Ambernath, Maharashtra. Since then, its operations have spread across the suburban areas of Thane and Raigad districts in Maharashtra.