Patel Retail garners Rs 43 cr from anchor investors

New Delhi, Aug 18 (PTI) Supermarket chain Patel Retail Ltd on Monday collected over Rs 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 Rs 255 apiece, aggregating the fund raising to Rs 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 Rs 242.76 crore.

The company's shares will be available for subscription in the price band of Rs 237 to Rs 255 apiece.

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 Rs 820.69 crore in fiscal 2025 from Rs 814.19 crore in the preceding financial year. Profit after tax rose to Rs 25.28 crore from Rs 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. PTI SP HVA