Everything You Should Know About the Patel Retail IPO Allotment

As of August 23, 2025 (IST), the basis of allotment for Patel Retail Limited has been finalised; listing is slated for Tuesday, August 26. The ₹242.76-crore mainboard issue drew heavy demand and now moves into the final investor-facing steps: refunds, credit of shares, and debut on the bourses. Here’s your crisp, investor-ready guide covering dates, how to check your status, timelines, GMP context, and what to do next. 

Quick facts at a glance

• Issue size: ₹242.76 crore (fresh issue ~₹217.21 crore + OFS ~₹25.55 crore). Business Today

• Price band: ₹237–₹255 per share; lot size: 58 shares (1 lot ≈ ₹14,790 at the upper band). ZerodhaKotak Securities

• Subscription (final): ~95.70× overall; QIB ~272.43×, NII ~108.18×, Retail ~42.49×. Business Today

• Allotment finalised: Friday, Aug 22; refunds & demat credit: expected Monday, Aug 25; listing:Aug 26 on BSE & NSE. Business TodayChittorgarh

• Registrar:Bigshare Services; BRLM:Fedex Securities. Business Today

• Anchor book: ~₹43 crore raised ahead of opening. The Economic Times

How to check your Patel Retail IPO allotment status (3 reliable routes)

1. Registrar (Bigshare Services)

   • Go to the IPO allotment page of Bigshare Services.

   • Select “Patel Retail Limited” once visible (it appears only after finalisation).

   • Search by Application No. / DP ID–Client ID / PAN, complete captcha, and submit.
     This is the primary record used for allotment and demat credit. ipo.bigshareonline.comBusiness Today

2. BSE application status

   • On BSE’s “Application Status” page, choose Issue Type: Equity, pick Issue Name: Patel Retail Limited, then enter Application No. and PAN to view your result. Business Today

3. NSE allotment check

   • Register/login on NSE’s IPO status page, then search for the issue and enter your details (PAN/Application No.). Some guides also surface the symbol during listing prep. mint

Tip: If you applied via your broker app, most apps mirror the registrar/BSE data—use them for quick visibility, but rely on Bigshare/BSE/NSE for source-of-truth. Groww

Key dates & investor timeline (IST)

• Aug 22 (Fri): Basis of allotment finalised. The Economic Times

• Aug 25 (Mon):UPI mandates released/funds unblocked, refunds initiation for non-allottees, credit of shares to successful applicants’ demat. Business Today

• Aug 26 (Tue):Listing on BSE & NSE; issue price at the upper end ₹255; actual listing price will depend on market conditions. Kotak Securities

What the GMP is (and isn’t)

The grey-market premium (GMP) around allotment hovered near ₹50/share, implying ~~20% listing pop vs. the issue price if momentum holds. Important: GMP is unofficial, opaque, and can change sharply by listing day—treat it as sentiment, not a guarantee. mintThe Economic Times

Why demand was intense

Patel Retail runs a value-retail supermarket chain focused on tier-III cities and suburban clusters (brand: Patel’s R Mart), with ~43 stores across Thane and Raigad districts (Maharashtra). The familiar mass-market product mix (FMCG, general merchandise, apparel), consistent scale-up, and visible store footprint helped attract broad interest across investor categories—reflected in the 95.70× overall subscription skewed to QIBs. Business Today

Financially, FY25 revenue was ~₹820.7 crore with PAT ~₹25.3 crore, indicating steady growth into the offer and supporting the long-term value retail thesis that public markets have favoured in recent cycles. The Economic Times

Allotment math in plain English

• Retail category uses proportionate allotment with lots. Given oversubscription, most retail investors are first considered for one lot via draw of lots; additional lots become statistically harder as bids climb. With ~42.5× retail bids, single-lot allotments dominate the distribution. Business Today

• Lot size is 58 shares (₹14,790 at ₹255). Applying for more lots increases chances marginally in proportionate terms, but does not ensure allotment when oversubscribed. Zerodha

Didn’t get shares? Your post-allotment checklist

1. UPI blocked amount released / ASBA unblocked:
   Expect release by Aug 25; check your bank/UPI mandate tab. If funds remain blocked beyond T+2 from allotment finalisation, raise a ticket with your bank/broker and, if needed, the registrar. Business Today

2. Consider listing-day strategy:
   If your original view was a listing-gains trade, track pre-open price discovery at 9:45–10:00 IST on Aug 26 and set strict stop-loss/target levels. GMP signals are not binding and can fade quickly on volatile days. mint

3. For longer-term investors:
   Re-evaluate the business post-listing—look at store expansion cadence, same-store sales growth, gross margin mix between private labels vs. branded goods, and working-capital discipline (inventory turns). Refer to the RHP and subsequent quarterly disclosures for fundamentals rather than price chatter. patelrpl.in

Got shares? What to verify before listing day

• Demat credit: Confirm ISIN credit in your depository app on Aug 25. If not visible by evening, raise a query with your broker/registrar quoting your application number and PAN. Business Today

• Risk plan: Pre-decide whether you’re a flip (near listing) or hold investor. For flippers, liquidity in the opening minutes can be patchy; use limit orders. For holders, build your thesis around store economics, unit-level profitability, and regional concentration risks highlighted by coverage. mint

Why SMEStreet readers cared about this one

• Category tailwinds: Value retail in smaller cities has remained resilient across cycles in India, particularly where private-label mix supports margins. Multiple broker/analyst notes flagged reasonable growth visibility, even as opinions differed on pricing. Amazon Web Services, Inc.

• Healthy anchor & book response: The ~₹43 crore anchor and strong QIB take-up signalled early institutional comfort, which often helps post-listing stability—though it’s not a fail-safe. The Economic TimesBusiness Today

Final word: What to expect on August 26

With allotment done and refunds/demat credits due Aug 25, price discovery on Aug 26 will reflect both the strong subscription math and broader market tone (risk-on/off, sector flows). GMP hints at a potential ~20% pop, but the tape takes precedence—watch for early volatility, especially if peers or the wider market wobble. Stay disciplined: align actions to your original thesis and risk limits, not the noise. mint

Sources (key references)

Allotment & dates: ET Markets; Business Today; Kotak Securities; Business Standard. Price band/lot size/listing: Zerodha; Kotak Securities; LiveMint primers. Registrar steps: Bigshare; BSE; Mint explainer. Company background/financials: ET Markets anchor coverage; RHP/IR page.