SS Retail IPO - My Quick Take
SS Retail IPO - My Quick Take I went through the RHP of SS Retail to understand what’s actually behind the IPO, rather than looking at it only from the listing-gain perspective. SS Retail is a multi-brand retailer focused mainly on mobiles, electronics and pre-owned smartphones , with 503 stores , largely concentrated in Maharashtra. The growth story definitely stands out: Revenue: ₹1,207 Cr → ₹2,351 Cr EBITDA: ₹56 Cr → ₹125 Cr PAT: ₹27 Cr → ₹59 Cr (FY24–FY26) But there’s another side to the story — margins are still quite thin , with EBITDA margin at 5.3% and PAT margin at 2.5%. Where is the IPO money going? Out of the ₹500 Cr issue: • ₹360 Cr Fresh Issue — mainly for working capital and store expansion • ₹140 Cr OFS — goes to existing share...