Patel Retail IPO
Patel Retail Limited (PATELRMART) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 26 August 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +48.4% (likely range +42% to +94%), day's high +48.4%, chance of a gain 97%. Actual: +17.6% at the open, +19.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 11,36,312 | 30,95,62,472 | 272x | |
| NII (HNI) total | 23,67,250 | 25,60,77,192 | 108x | |
| Big NII (above ₹10 lakh) | 15,78,167 | 16,12,13,552 | 102x | |
| Small NII (₹2-10 lakh) | 7,89,083 | 9,48,63,640 | 120x | |
| Retail | 42,61,050 | 18,10,56,048 | 42.5x | |
| Employees | 51,000 | 12,93,748 | 25.4x | |
| Total | 78,15,612 | 74,79,89,460 | 95.7x |
Bids on NSE and BSE together, as published by NSE, as of 21 Aug 2025, 07:00 PM. Shares offered exclude the anchor portion. 20% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Patel Retail's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Aeroflex IndustriesAug 2023 | 195x | 126x | 34.4x | 97.1x | ₹352 Cr | +75.9% | +81.8% |
| Vishnu Prakash R PungliaAug 2023 | 172x | 111x | 32.0x | 87.8x | ₹309 Cr | +66.7% | +66.7% |
| Platinum IndustriesFeb 2024 | 151x | 142x | 51.0x | 99.0x | ₹235 Cr | +31.6% | +38.2% |
| Arkade DevelopersSep 2024 | 163x | 163x | 51.4x | 107x | ₹434 Cr | +36.7% | +48.4% |
| DEE Development EngineersJun 2024 | 202x | 144x | 23.4x | 99.6x | ₹431 Cr | +67.0% | +80.2% |
| EMSSep 2023 | 153x | 82.3x | 29.8x | 75.3x | ₹322 Cr | +33.7% | +37.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Fedex Securities | 3 | +19.7% | 67% |
Offer documents (NSE)
Frequently asked
What is the Patel Retail IPO price band and lot size? ₹237–255 per share, with a lot of 58 shares, so the smallest retail bid is ₹14,790.
How many times has it been subscribed? 95.7x overall: QIB 272x, NII 108x, retail 42.5x, employees 25.4x.
How did it list? It opened at ₹300, +17.6% against the issue price of ₹255, and closed its first day +12.8%.
