Jay Ambe Supermarkets IPO opens today: Key details
Jay Ambe Supermarkets is opening its IPO from September 10-12, aiming to raise ₹18.45 crore by offering 23.65 lakh shares at ₹74-78 each.
The listing is set for September 17 on the BSE SME platform.
The Grey Market Premium sits around 14%, hinting at a possible listing gain of ₹10-11 per share.
The company operates the City Square Mart brand
Jay Ambe Supermarkets, incorporated in 2020, operates the City Square Mart brand—a supermarket chain established in 2018, now with 17 stores across Gujarat—selling groceries, FMCG products, apparel, toys, footwear and more.
The company uses franchise models for expansion.
In the last financial year (FY25), revenue jumped 42% to ₹47.4 crore and net profit shot up by 78% to ₹2.75 crore.
What will the money raised be used for?
The money raised will help buy a new Ahmedabad store, open three more outlets, cover working capital needs and handle other corporate expenses.
With most of their 132 employees being permanent staffers, the company seems focused on steady expansion in Gujarat's retail space.