SS Retail IPO GMP Today: Premium at ₹128 as IPO Opens; GMP Rises Over 300% in a Week

16 Sep 2026 , 10:44 AM

SS Retail IPO GMP today is ₹128, indicating an estimated listing price of ₹552 against the upper price band of ₹424. The IPO opened for subscription on September 16, 2026, with the grey market premium suggesting a potential 30.19% premium over the issue price.

SS Retail IPO opened for subscription on Wednesday, September 16, 2026, and will remain open until September 18. The ₹500 crore book-built issue comprises a fresh issue of 85.08 lakh shares worth ₹360 crore and an offer for sale of 33.02 lakh shares aggregating to ₹140 crore.

While the IPO has just opened, its grey market premium (GMP) has shown a sharp increase over the past week, rising from ₹30 on September 10 to ₹128 on September 16. The GMP touched ₹140 on September 14 before moderating to ₹128.

At the current GMP of ₹128, the estimated listing price stands at ₹552, compared with the IPO’s upper price band of ₹424.

SS Retail IPO GMP Today

As of 9:59 AM on September 16, SS Retail IPO GMP stood at ₹128.

Based on the upper price band of ₹424, the implied listing price is:

₹424 + ₹128 = ₹552

This translates into a potential premium of approximately 30.19% over the IPO price.

For the minimum lot of 35 shares, the estimated gain based on the current GMP would be:

35 × ₹128 = ₹4,480

However, GMP is an unofficial indicator of market sentiment and does not guarantee the actual listing price. The premium can change before the shares are listed.

SS Retail IPO GMP Trend

The grey market premium has moved sharply higher ahead of and at the opening of the IPO.

Date	IPO Price	GMP	Estimated Listing Price	Potential Premium
Sep 16, 2026	₹424	₹128	₹552	30.19%
Sep 15, 2026	₹424	₹128	₹552	30.19%
Sep 14, 2026	₹424	₹140	₹564	33.02%
Sep 13, 2026	₹424	₹120	₹544	28.30%
Sep 12, 2026	₹424	₹106	₹530	25.00%
Sep 11, 2026	₹424	₹80	₹504	18.87%
Sep 10, 2026	₹424	₹30	₹454	7.08%

The GMP has increased by ₹98, or around 326.67%, from ₹30 on September 10 to ₹128 on September 16.

The sharpest move came between September 10 and September 14, when the GMP climbed from ₹30 to ₹140. It has since moderated by ₹12 to ₹128.

This means that while the grey market premium remains substantially higher than a week ago, the recent movement suggests some cooling from its September 14 peak.

SS Retail IPO Subscription Status

The SS Retail IPO received 0.11 times subscription as of 9:59 AM on September 16, shortly after the issue opened.

The IPO will remain open for subscription until September 18, giving investors three days to place their bids.

The subscription figures will be closely watched alongside the GMP because strong demand in the IPO market can influence grey market sentiment, although GMP and official subscription data represent different indicators.

SS Retail IPO Price, Lot Size and Investment

SS Retail has fixed the IPO price band at ₹403 to ₹424 per share.

The minimum application lot consists of 35 shares. At the upper price band, a retail investor would need to invest:

35 × ₹424 = ₹14,840

The company has also offered an employee discount of ₹25 per share.

Particular	Details
IPO Size	₹500 crore
Fresh Issue	₹360 crore
Offer for Sale	₹140 crore
Price Band	₹403–₹424
Lot Size	35 shares
Minimum Investment	₹14,840
Employee Discount	₹25/share
Listing	NSE and BSE
IPO Type	Book Building

SS Retail IPO Dates

The SS Retail IPO opened on September 16, 2026, and will close on September 18.

Event	Date
IPO Open	September 16, 2026
IPO Close	September 18, 2026
Allotment	September 21, 2026
Refund	September 22, 2026
Credit of Shares	September 22, 2026
Listing	September 23, 2026

Anand Rathi Advisors Ltd. is the book-running lead manager for the issue, while KFin Technologies Ltd. is the registrar.

What Does SS Retail Do?

Incorporated in June 2016, SS Retail operates a multi-brand retail network focused on mobile phones, accessories and other electronic products.

The company operates through brands including SS Mobile, Mobile Exchange Wala and The Mobile Space. Its product portfolio includes mobile phones, pre-owned smartphones, accessories, televisions, laptops and tablets.

SS Retail primarily targets Tier II, Tier III and beyond cities and operates through COCO, COFO and FOFO store formats.

As of March 31, 2026, the company had 503 stores across 215 cities, covering approximately 2.41 lakh sq. ft. By July 31, 2026, its network had expanded to 536 stores covering approximately 2.61 lakh sq. ft.

The company also acquired a 51.04% stake in Olineo Nexus India Private Limited during Fiscal 2026, adding 34 stores to its network.

SS Retail Financial Performance

SS Retail reported strong growth in revenue and profitability during FY26.

₹ Crore	FY26	FY25	FY24
Total Income	2,352.85	1,599.96	1,208.04
PAT	59.28	39.86	26.65
EBITDA	125.15	80.44	56.50
Net Worth	225.71	141.37	101.51
Borrowings	162.59	125.36	110.43
Assets	575.42	389.44	278.25

Total income increased from ₹1,599.96 crore in FY25 to ₹2,352.85 crore in FY26, while PAT rose from ₹39.86 crore to ₹59.28 crore.

That represents approximately 47% growth in revenue and 49% growth in PAT year-on-year.

Where Will SS Retail Use the IPO Proceeds?

A significant portion of the net proceeds from the fresh issue is proposed to be used for working capital requirements.

The stated objects include:

• ₹241.35 crore towards incremental working capital requirements
• ₹12.45 crore towards capital expenditure for setting up new stores in FY27 and FY28
• Remaining proceeds towards general corporate purposes

The IPO therefore combines funding for business expansion with additional working capital support for the company’s growing retail network.

SS Retail IPO: GMP and Market Sentiment

The key feature of SS Retail’s IPO ahead of listing is the sharp movement in its grey market premium.

The GMP has moved from ₹30 on September 10 to ₹128 on September 16, although it remains below the recent high of ₹140 recorded on September 14.

At ₹128, the grey market indicates an estimated listing price of ₹552, or around 30.19% above the upper IPO price of ₹424.

The GMP trend therefore shows two distinct phases: a rapid increase in the premium in the days leading up to the IPO and a modest moderation after reaching ₹140.

Investors should keep in mind that GMP is an unofficial market indicator and can move significantly before listing. The actual listing price is determined by market conditions on the listing day and may differ from the GMP-based estimate.

SS Retail IPO GMP Today: Key Takeaways

• Current GMP: ₹128
• IPO Upper Price Band: ₹424
• Estimated Listing Price: ₹552
• Implied Premium: 30.19%
• Minimum Lot: 35 shares
• Minimum Investment: ₹14,840
• Current Subscription: 0.11x as of 9:59 AM on September 16
• Recent GMP High: ₹140 on September 14
• GMP on September 10: ₹30
• GMP Increase Since September 10: 326.67%
• IPO Closing Date: September 18, 2026
• Expected Listing Date: September 23, 2026

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