Jay Ambe Supermarkets IPO to list today: What to expect
Jay Ambe Supermarkets, a retail chain from Gujarat, is hitting the stock market today with a lot of buzz—its IPO was oversubscribed by over 64 times.
Retail investors especially jumped in, with retail subscriptions soaring past 71 times and non-institutional interest even higher.
Even institutional investors wanted in, showing strong demand across the board.
Strong revenue growth and profits
Started just five years ago, Jay Ambe already runs 17 City Square Mart stores across Gujarat using a franchise model to sell everyday essentials and more.
The company saw its revenue jump 42% to ₹47.40 crore and profits rise by 78% this year.
Money from the IPO will help them buy a new store in Ahmedabad and open more outlets soon.
The gray market hints at a listing price around ₹85-86 per share—higher than their issue price—so it looks like an exciting start for this young brand.