New Delhi, Sept. 28 -- SS Retail share price jumped nearly 7% on Monday, 28 September, even as the broader stock market remained weak. The stock has now gained around 83% from its IPO price of Rs.424 per share.
SS Retail made a strong debut on 23 September, listing at a substantial premium to its issue price. On the BSE, the stock opened at Rs.639.10, up 50.73% from the IPO price. It surged as much as 80.87% during the session to Rs.766.90 and eventually closed at Rs.765.15, marking a gain of 80.45%.
On the NSE, SS Retail shares debuted at Rs.624, representing a 47.16% premium over the issue price. The stock ended the session at Rs.748.80, up 76.60%.
Following the sharp gains at its listing, the company's market capitalisation stood at Rs.5,690.24 crore; as of today, it is Rs.5,331.41 crore.
The Rs.500-crore SS Retail IPO received an overwhelming response, with bids 103.30 times subscribed on the final day of bidding.
The issue comprised a fresh issue of shares worth up to Rs.360 crore and an Offer-for-Sale (OFS) of up to Rs.140 crore. The IPO had a price band of Rs.403- Rs.424 per share.
SS Retail operates a multi-brand retail chain selling mobile phones, accessories and other electronic products.
SS Retail made a strong debut on the Indian stock exchanges, listing at Rs.624 on the NSE, a 47.17% premium over its IPO price of Rs.424. On the BSE, the stock opened at Rs.639.10, up 50.73% from the issue price.
The company operates a multi-brand retail chain offering mobile phones, pre-owned smartphones, accessories and other electronic products, with a focus on Tier-II, Tier-III and smaller cities. It has a presence across Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat.
As of 31 March 2026, SS Retail operated 503 stores across 215 cities, including 458 stores in Maharashtra. The company operates under the SS Mobile, Mobile Exchange Wala and The Mobile Space brands through company-owned and company-operated (COCO), company-owned and franchisee-operated (COFO), and franchisee-owned and franchisee-operated (FOFO) models.
The Indian mobile phone market is projected to grow at a 9.2% CAGR to Rs.5,198 billion by FY30, while the pre-owned smartphone market is expected to grow at a 12.7% CAGR to Rs.1,419 billion. The mobile accessories market is projected to reach Rs.968 billion by FY30, growing at a 15.5% CAGR.
Commenting on the listing, Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said SS Retail made a strong debut at Rs.624, a 47% premium to its IPO price of Rs.424, supported by strong ROE/ROCE and its asset-light COFO model.
"However, at around 46.5x FY26 P/E, valuations appear demanding, while its higher exposure to lower-margin mobile hardware limits direct comparison with peers," Nyati said.
Given the strong listing and limited margin of safety at current valuations, Swastika Investmart's post-listing view is Neutral, she said, adding that investors could wait for some consolidation before taking fresh positions.
For long-term investors, the company's growth prospects could depend on its ability to benefit from organised retail, changing consumer preferences and the expansion of its store network. Key factors to track include quarterly revenue growth, same-store sales, margins, store expansion and cash-flow generation.
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