SS Retail share price made a strong debut in the Indian stock market on Wednesday, after its initial public offering (IPO) was heavily oversubscribed.
SS Retail shares were listed at Rs 639.10 apiece on the BSE, a premium of 50.73% to the issue price of Rs 424 per share.
On NSE, SS Retail shares were listed with 47.17% premium at Rs 624.00 per share.
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SS Retail IPO listing was better than the Street estimates, as indicated by the grey market premium (GMP). Ahead of the stock debut, SS Retail IPO GMP today signalled a listing with around 38% premium.
The public issue of the multi-brand retail chain for mobile phones and accessories was open for subscription from September 16 to September 18. SS Retail IPO listing date was today, September 23, and the shares have been listed on both the stock exchanges, BSE and NSE.
The company raised Rs 500 crore from the IPO which was a combination of fresh issue of 85.08 lakh equity shares worth Rs 360 crore and an offer for sale (OFS) of 33.02 lakh shares aggregating to Rs 140 crore. SS Retail IPO price band was set at Rs 403 to Rs 424 per share.
SS Retail IPO received a massive 103.30 times subscription.
The company aims to utilise the net issue proceeds for capital expenditure for new stores in FY27 & FY28, incremental working capital (mainly inventory funding) and general corporate purposes.
Anand Rathi Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the SS Retail IPO registrar.
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