Patel Retail Ltd Company Summary

Patel Retail Ltd Summary

Patel Retail Ltd was originally incorporated as Patel Retail Private Limited at Ambernath, Maharashtra as a Private Limited Company dated June 13, 2007 issued by the Registrar of Companies, Mumbai. Thereafter, Company converted into a Public Limited Company, to which the name of Company got changed to Patel Retail Limited and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Maharashtra dated August 28, 2023.Patel Retail Ltd are primarily engaged as a retail supermarket chain operating in tier-III cities and nearby suburban areas, with focus on value retail, offering food, non-food (FMCG), general merchandise and apparel catering to the needs of the entire family. Incorporated in year 2007, Company started its first store under the brand Patels R Mart at Ambernath, Maharashtra and since, their operations are spread across the suburban area of Thane and Raigad district in Maharashtra. Over the years, the Company emerged as a player managing one of the largest network stores in the MMR region. In 2009, it commenced the export business; thereafter opened 1st garments outlet/ store under the name Patel R Choice. It set up Processing and Packaging Unit (Facility 1) in 2009; opened 10th Super market in 2010; started the first Processing Plant at Dudhai, Kutch Dist. of Gujarat in 2015. The Company later in 2019, received approval from MOFPI to set up Agro Processing Cluster. In 2022, it established the Agro Processing Cluster at Dudhai, in Kutch Dist. of Gujarat in 2022-23. Further, it expanded manufacturing /processing capability by setting-up Facility 2 where the Company process peanuts and whole spices, such as coriander seed and cumin seeds in 2023. It launched the private label goods under brand Patel Fresh, Indian Chaska, Blue Nation and Patel Essentials. The Company is proposing the Public Issue aggregating 1,00,20,000 Equity Shares, comprising the Equity Shares of 90,18,000 Fresh Issue and 10,02,000 Offer for Sale.