SS Retail opened at ₹624 on Thursday, a 47% jump from the ₹424 issue price, and finished the day 12% higher at ₹700. The grey‑market premium in the unlisted market stood at ₹160 before listing, underscoring a robust first‑day rally.
The 3‑day offering attracted a 103.3× subscription, with QIBs buying 203.6× the shares reserved for them, NIIs 143.6×, and retail investors 36×. Such depth placed SS Retail among the most subscribed IPOs this quarter, reflecting confidence in its tier‑III and IV retail model.
At FY26 year‑end, the chain operated 503 outlets across 215 cities, 91% of which sit in Maharashtra. The franchise‑led model dominates: 83% of stores run under COFO/FOFO, the remainder under COCO. Same‑store sales grew 11.2%, while the average store closure rate was 3.65%.
Analysts note the 47% premium sits well above the sector average of 30% for IPOs this quarter and above the 5‑month average of 38% for SS Retail, making the debut notably high. The premium reflects a bullish view on the company’s expansion into untapped markets.
Management will report FY27 results on 15 March. Guidance is expected to focus on expanding tier‑III/IV footprints and boosting digital sales, which could keep the stock trading between ₹650 and ₹700 in the near term.