SS Retail, the multi-brand retail chain for mobile phones, accessories and other electronic items, has decided to open its maiden public issue of Rs 500 crore on September 16 and close it on September 18.
The one-day anchor book will open for institutional investors on September 15, while the IPO share allotment is expected to be finalised by September 21. The company's equity shares are expected to start trading on the bourses from September 23.
SS Retail is raising up to Rs 360 crore through the issuance of fresh shares, while existing shareholders, including promoters, will sell shares worth Rs 140 crore through an offer-for-sale (OFS).
The price band will be announced separately on September 10.
The company has reserved shares worth Rs 12 crore for its employees. Of the net offer, excluding the employee portion, 50 percent of the shares have been reserved for qualified institutional buyers, 35 percent for non-institutional investors, and the remaining 15 percent for retail investors.