SS Retail has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 500 crore through an initial public offering (IPO). The company's maiden public offering will be a combination of fresh issue of shares worth Rs 300 crore, along with an offer for sale (OFS) of Rs 200 crore by promoters and other shareholders.
Proceeds of the fresh issue will be used to fund capital expenditure for fit outs towards setting up of new stores in FY27 and FY28; working capital requirements; and general corporate purposes. Anand Rathi Advisors and Emkay Global Financial Services have been appointed as merchant bankers. The shares of the company are proposed to be listed on BSE and NSE.
SS Retail is a multi-brand retail chain for mobile phones, accessories and other electronic items, with operations in four states -- Maharashtra, Karnataka, Madhya Pradesh, and Goa with focus on tier-II and tier-III cities and beyond.
