From a banyan tree in Dudhai to a 4-star export house, our journey has always been rooted in Trust and Togetherness — Dhanji Patel, Chairman & MD, Patel Retail Ltd
- Patel Retail Limited Unveils ₹237–₹255 Price Band for August 19 IPO
- Management outlines expansion plans in Ahmedabad media meet
BILKULONLINE |Ahmedabad | 14 August 2025
Patel Retail Limited, the Maharashtra-based value retail supermarket chain, has set the price band of its upcoming Initial Public Offering (IPO) at ₹237 to ₹255 per equity share of face value ₹10 each. The public issue will open for subscription on Tuesday, August 19, 2025, and close on Thursday, August 21, 2025.
The announcement came during an interactive media briefing in Ahmedabad, attended by the company’s top leadership — Dhanji Patel, Chairman and Managing Director; Rahul Patel, CEO; Mahesh Chaware, Head Retail; Manish Agarwal, CFO; Deepak Nagda; and Uday Nair, Executive Director of Fedex Securities, the sole book-running lead manager for the issue.
The IPO comprises a fresh issue of up to 85.20 lakh equity shares and an offer for sale (OFS) of up to 10.02 lakh equity shares by promoter selling shareholders. Eligible employees bidding in the reserved portion will receive a ₹20 per share discount.
- ₹59 crore for repayment/prepayment of certain borrowings
- ₹115 crore for funding working capital requirements
- Remaining funds for general corporate purposes
Founded on June 13, 2007, Patel Retail operates under the “Patel’s R Mart” brand, with a focus on value retailing in tier-III cities and suburban pockets. As of May 31, 2025, it managed 43 stores with a combined retail business area of approximately 1,78,946 sq. ft., concentrated in the suburban areas of Thane and Raigad districts. The company offers more than 10,000 product SKUs across 38 categories, ranging from food and FMCG to apparel and home improvement products.
To boost margins and strengthen customer loyalty, Patel Retail has developed a portfolio of private label brands including Patel Fresh (pulses, ready-to-cook mixes), Indian Chaska (spices, ghee, papad), Blue Nation (menswear), and Patel Essentials (home improvement products). The company also exports to 35+ countries and operates a mobile app with 86,000+ downloads and 17,000 active users.
Dhanji Patel, Chairman and MD, emphasised the strategic intent behind the IPO:
“Our mission has always been to deliver quality products at competitive prices to customers who deserve the same retail experience as metros, without having to travel far. This IPO is a stepping stone towards deepening our presence in growing suburban markets like Mira Road, Bhayander, Virar, Vasai, and Pune.”
Rahul Patel, CEO, highlighted the brand’s growth vision:
“Private labels will be a strong driver of profitability going forward. We are confident that our expansion strategy, coupled with improved supply chain efficiencies, will help us maintain our value-for-money positioning while increasing margins.”
In FY25, Patel Retail’s revenue from operations rose to ₹820.69 crore from ₹814.19 crore in FY24, while profit after tax increased by 12.18% from ₹22.53 crore to ₹25.28 crore.
The IPO will be conducted via the book-building process, with not more than 30% allocated to Qualified Institutional Buyers (QIBs), at least 25% to Non-Institutional Investors (NIIs), and not less than 45% to Retail Individual Investors (RIIs).
From banyan tree to bourses, driven by Trust and Togetherness
“When I left my village Dudhai in 1984, I was just Dhanji Patel, a farmer’s son with big dreams and the values my land had taught me — honesty, hard work, and respect for people. From helping my elder brother in his grocery shop under a banyan tree to opening our first Patel R Mart and building a 4-star export house, this journey has been shaped by the faith of our farmers, customers, and team. I’ve always believed that with a clear plan and steady determination, anything is possible.”
“Standing here today as Chairman and Managing Director of Patel Retail, I see our IPO not only as a business milestone but as a continuation of a dream we’ve all built together. This company’s story belongs to every farmer who grows with us, every customer who trusts us, and every team member who walks beside us. Our roots will always keep us grounded, our vision will keep us moving forward, and our guiding force will remain — Trust and Togetherness.”
Disclaimer: The investors are advised to refer to pages 545 and 546 of the RHP for the full text of the disclaimer clause of BSE & NSE.
Kindly Like the shared video links and Subscribe BILKULONLINE channel.
- https://youtube.com/shorts/JKozknwAG1I?feature=share
- https://youtube.com/shorts/D-ysCUv6ke4?feature=share
- https://youtube.com/shorts/W6NhtURbNZM?feature=share
- https://youtu.be/W4MNDB92jxE
