Next Article
Patel Retail IPO opens today: Should you invest?
Patel Retail, known for its stores in tier-III cities and suburban areas, just opened its ₹242.76 crore IPO for subscription today.
Shares are priced between ₹237 and ₹255.
The company is aiming to raise funds mainly for paying off loans and boosting working capital.
How to apply for the issue
You can apply in lots of 58 shares, and there's a ₹20 per share discount if you're an employee.
Allocation splits 45% for retail investors, 30% for institutional buyers, and 25% for non-institutional folks.
Patel Retail has been around since 2007, making its mark by bringing food, FMCG goods, and apparel to tier-III towns—so this IPO could be interesting if you're looking at India's growing smaller-city market.