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SS Retail Limited, led by Siddharth Shah, is entering a new phase of growth with a ₹500.75 crore initial public offering (IPO), with the capital expected to support store expansion and working capital requirements.
The mobile and consumer electronics retailer currently operates 536 stores across five states and 215 cities, covering 2.61 lakh sq ft of retail space. The company reported revenue of ₹2,351 crore and profit after tax (PAT) of ₹59.28 crore in FY26.
SS Retail has recorded a 39.6% revenue CAGR, while its retail operations delivered sales of ₹1.46 lakh per sq ft. The company also reported 11.17% same-store sales growth (SSSG) and a 29.3% return on capital employed (ROCE).
The company’s expansion strategy is focused on strengthening its presence across Tier II, Tier III and smaller cities, where it is building store density through a combination of company-owned and franchise-led formats.
The IPO proceeds are expected to fund the next phase of this expansion, including new-store fit-outs and working capital. SS Retail plans to deepen its presence in existing markets while entering new geographies beyond the major metropolitan centres.
The company’s Bharat-focused retail strategy has helped it build a sizeable presence outside metros, with its store network spanning multiple smaller cities and towns. The franchise-led model is also expected to remain an important part of its expansion strategy as the retailer looks to scale its footprint.
SS Retail has further expanded its portfolio through acquisitions, including GIZMORE and Olineo, strengthening its presence in the consumer electronics and related categories.
With the IPO, the company is now looking to leverage its existing retail network, franchise model and presence in Bharat markets to accelerate store expansion and build a larger organised mobile retail business across India.
