The Initial Public Offering of Patel Retail was subscribed 19.5 times on the second day of bidding.

The issue received bids of 15,24, 31, 598 against the offered 78,15, 612 equity shares at a price band of Rs 237 to Rs 255, according to data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed 16.58 times and 26.1 times respectively. Qualified Institutional Investors was subscribed 17.16 times and Employee Portion was subscribed 9.58 times. The issue kicked off for subscription on Tuesday, August 19, 2025 and will close on Thursday, August 21, 2025.

A day before the opening, Patel Retail had raised Rs 43.46 crore from anchor investors. Some of the marquee institutions that participated in the anchor include Maybank Securities, BNP Paribas Financial Markets, Pine Oak Global Fund and Saint Capital Fund.

Leading brokerage firms like Anand Rathi, SBI Securities, BP Wealth, Ventura Securities, Arihant Capital, Lakshmishree, Choice Capital and Marwadi Financial Services have given a “Subscribe” rating to the issue highlighting the company’s revenue structure is diversified, with retail operations contributing 45% of total revenue, spanning food, FMCG, and apparel. The company has a strong presence in the export market, reaching over 35 countries, with branded exports contributing significantly to its revenue. Key strengths of the company include a robust logistics network featuring 18 owned trucks, a central distribution hub, and a proprietary ERP system for efficient inventory management. The company’s private label brands offer competitive pricing and quality, creating a loyal customer base.

Fedex Securities Private Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the Offer.