Patel Retail is a Maharashtra-based retail and food processing company, primarily operating supermarkets under the “Patel’s R Mart” brand in tier-III cities and suburban Mumbai. Established in 2008, it runs 31 stores and processes food items like spices, pulses, and mango pulp at its Gujarat facility. The company offers products under brands such as Patel Fresh, Indian Chaska, and Patel Essential, and exports to over 25 countries. In 2024, it filed for an IPO to support expansion and reduce debt.
IPO schedule
Issue open date
2025-08-19
Issue close date
2025-08-21
UPI mandate deadline
2025-08-21 (5 PM)
Allotment finalization
2025-08-22
Refund initiation
2025-08-25
Share credit
2025-08-25
Listing date
2025-08-26
Mandate end date
2025-09-05
Lock-in end date for anchor investors (50%)
2025-09-21
Lock-in end date for anchor investors (remaining)
2025-11-20
Financials
Financial Year Ended
March 2023
March 2024
March 2025
Total Assets
303.11
333.02
382.86
Revenue
1019.80
817.71
825.99
Profit After Tax
16.37
22.53
25.28
Issue size
Funds Raised in the IPO
Amount
Overall
₹242.76 crores
Fresh Issue
₹215.91 crores
Offer for sale
₹25.55 crores
Utilisation of proceeds
Purpose
INR crores (%)
Working capital requirements
115 (53.2%)
Repayment/pre-payment of borrowings
59 (27.3%)
General corporate purposes
Strengths
Strong footprint in tier-III cities and suburban areas, capturing underserved markets.
Offers a wide range of food, FMCG, and household items under multiple in-house brands.
Presence in over 25 international markets broadens revenue streams.
Own food processing units enhance supply chain control and product quality.
Risks
The company relies heavily on the Maharashtra region for its retail operations.
It faces strong competition from national and local retail chains.
Its limited digital presence may hinder future growth.
Disruptions in its supply chain could impact product availability.
Regulatory non-compliance could lead to penalties or operational issues.
Export business is exposed to global trade and currency risks.