Jay Ambe Supermarkets IPO will open for subscription on September 10, 2025, and close on September 12, 2025. The issue is a Book Built IPO, through which the company aims to raise approximately ₹18.45 crores. The IPO comprises a fresh issue worth ₹18.45 crores, while the offer for sale (OFS) details are yet to be disclosed. Each equity share has a face value of ₹10.
The IPO price band has been fixed between ₹74 to ₹78 per share. The quota distribution is set at 50% for QIB investors, 35% for retail investors, and 15% for HNIs. Post allotment, the shares of Jay Ambe Supermarkets IPO will be listed on the BSE SME platform with a tentative listing date of September 17, 2025. The IPO allotment date is expected on September 15, 2025.
From a financial standpoint, the company has shown strong growth. In FY 2025, it reported a revenue of ₹47.40 crores, compared to ₹33.41 crores in FY 2024. Similarly, the net profit increased to ₹2.75 crores in FY 2025, up from ₹1.55 crores in FY 2024.
Jay Ambe Supermarkets IPO Date & Price Band Details
The Jay Ambe Supermarkets IPO will open on September 10, 2025, and close on September 12, 2025. It is a Book Built Issue with an issue size of ₹18.45 crores, priced at a band of ₹74–₹78 per share, with a lot size of 1,600 shares, listed on BSE SME.
| Category | Details |
|---|---|
| IPO Open Date: | September 10, 2025 |
| IPO Close Date: | September 12, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹74 to ₹78 Per Share |
| Issue Size: | Approx ₹18.45 Crores |
| Fresh Issue: | Approx ₹18.45 Crores |
| Lot Size: | 1,600 Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE SME |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Jay Ambe Supermarkets IPO Market Lot
Jay Ambe Supermarkets IPO, the retail minimum and maximum investment is 2 lots (3,200 shares) worth ₹2,49,600. For S-HNI investors, the range starts from 3 lots (4,800 shares) ₹3,74,400 up to 8 lots (12,800 shares) ₹9,98,400. The B-HNI minimum is 9 lots (14,400 shares) ₹11,23,200.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3,200 | ₹2,49,600 |
| Retail Maximum | 2 | 3,200 | ₹2,49,600 |
| S-HNI Minimum | 3 | 4,800 | ₹3,74,400 |
| S-HNI Maximum | 8 | 12,800 | ₹9,98,400 |
| B-HNI Minimum | 9 | 14,400 | ₹11,23,200 |
The subscription status will be updated after the bidding process begins on September 10, 2025.
Jay Ambe Supermarkets IPO IPO Reservation
The Jay Ambe Supermarkets IPO offers a total of 23,64,800 shares. Allocation includes Market Maker 1,18,400 shares (5.01%), NII 3,37,600 shares (14.28%), and Retail 7,87,200 shares (33.29%). The remaining 11,21,600 shares are reserved for QIB investors, ensuring a balanced IPO share distribution across categories.
| Investor Category | Share Offered | Shares% |
|---|---|---|
| Market Maker Shares Offered | 1,18,400 Shares | 5.01% |
| QIB Shares Offered | 11,21,600 Shares | – |
| QIB (Ex. Anchor) | – | – |
| NII Shares Offered | 3,37,600 Shares | 14.28% |
| Retail Shares Offered | 7,87,200 Shares | 33.29% |
| Total Shares Offered | 23,64,800 Shares | 100.00% |
Jay Ambe Supermarkets IPO Anchor Investors
The Jay Ambe Supermarkets IPO Anchor Bidding Date is September 8, 2025, with lock-in periods ending October 12 and December 11.
| Type | Details |
|---|---|
| Anchor Bidding Date | September 8, 2025 |
| Anchor Investors List | Click Here |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | October 12, 2025 |
| lock-in period end date 50% shares (90 Days) | December 11, 2025 |
Jay Ambe Supermarkets IPO Allotment & Listing Dates
The Jay Ambe Supermarkets IPO opens on September 10, 2025, and closes on September 12, 2025 (5 PM cut-off). The basis of allotment is on September 15, with refunds and Demat credit on September 16. The IPO is scheduled to list on BSE SME on September 17, 2025.
| Type | Date |
|---|---|
| IPO Open Date: | September 10, 2025 |
| IPO Close Date: | September 12, 2025 |
| Basis of Allotment: | September 15, 2025 |
| Refunds: | September 16, 2025 |
| Credit to Demat Account: | September 16, 2025 |
| IPO Listing Date: | September 17, 2025 |
| IPO Bidding Cut-off Time: | September 12, 2025 – 5 PM |
Jay Ambe Supermarkets IPO: Promoters and Holding Pattern
The promoters of Jay Ambe Supermarkets IPO are Jignesh Amratbhai Patel, Harshal Daxeshkumar Patel, Bhikhabhai Shivdas Patel, and Rutwijkumar Maganbhai Patel. The promoter holding pre-issue stands at 65,15,154 shares (71.51%), which will reduce to 88,79,954 shares (52.46%) post-issue, reflecting equity dilution after the IPO listing.
| Particular | Shares | Share% |
|---|---|---|
| Promoter Holding Pre Issue | 65,15,154 | 71.51% |
| Promoter Holding Post Issue | 88,79,954 | 52.46% |
Objects of the Issue & Utilisation of proceeds – Jay Ambe Supermarkets IPO
The Jay Ambe Supermarkets IPO proceeds will be utilized for purchasing an existing store in Nana Chiloda, Ahmedabad (₹4.25 Cr, 23%), fit-outs for three new stores (₹4.63 Cr, 25.1%), working capital needs (₹4.50 Cr, 24.4%), and general corporate purposes (₹5.07 Cr, 27.5%).
| Purpose | Crores | Change% |
|---|---|---|
| Purchase of existing store of the company located at Nana Chiloda, Ahmedabad | 4.25 | 23% |
| Purchase of fit-outs for Three (3) new stores | 4.63 | 25.1% |
| To Meet Working Capital Requirements | 4.50 | 24.4% |
| General Corporate Purposes | 5.07 | 27.5% |
Jay Ambe Supermarkets IPO Company Financial Report
The financials of Jay Ambe Supermarkets IPO show consistent growth. Revenue rose from ₹32.69 Cr in 2023 to ₹47.40 Cr in 2025, while PAT improved from ₹0.35 Cr to ₹2.75 Cr. The company’s assets also increased from ₹16.79 Cr (2023) to ₹26.78 Cr (2025), reflecting strong fundamentals.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹32.69 | ₹32.24 | ₹0.35 | ₹16.79 |
| 2024 | ₹33.41 | ₹31.29 | ₹1.55 | ₹22.02 |
| 2025 | ₹47.40 | ₹43.58 | ₹2.75 | ₹26.78 |
Jay Ambe Supermarkets IPO Valuation – FY2025
The Jay Ambe Supermarkets IPO key financial ratios indicate stable performance with ROE at 26.07% and ROCE at 24.12%. The company maintains an EBITDA margin of 10.53% and PAT margin of 5.82%, supported by a healthy debt-to-equity ratio of 0.64 and EPS of ₹4.50.
| KPI | Values |
|---|---|
| ROE: | 26.07% |
| ROCE: | 24.12% |
| EBITDA Margin: | 10.53% |
| PAT Margin: | 5.82% |
| Debt to equity ratio: | 0.64 |
| Earning Per Share (EPS): | ₹4.50 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 20.29% |
| Net Asset Value (NAV): | ₹20.83 |
Jay Ambe Supermarkets IPO Peer Group Comparison
In the peer group comparison, Osia Hyper Retail Limited reported an EPS of 1.46 with a P/E ratio of 17.00. Its RoNW stands at 4.97%, while the NAV is 23.85. The company recorded strong income of ₹1,144.47 crores, showcasing its scale in the retail sector.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Osia Hyper Retail Limited | 1.46 | 17.00 | 4.97% | 23.85 | 1,144.47 Cr. |
Jay Ambe Supermarkets Company Overview, Strengths, and Risks
Jay Ambe Supermarkets Limited, operating under the brand name “City Square Mart,” is a retail company based in Gandhinagar, Gujarat, India. Incorporated in 2020, it has rapidly expanded its presence, now operating 17 stores across Gujarat. The company is engaged in the trading of a diverse range of products, including Fast-Moving Consumer Goods (FMCG), groceries, home textiles, home décor, apparel, toys, gift articles, footwear, and other household items.
Jay Ambe Supermarkets employs a multi-faceted business model that includes company-owned and operated stores (COCO), franchise-owned and company-operated stores (FOCO), and franchise-owned and operated stores (FOFO). This approach allows for scalable growth and a wider market reach. The company is currently undertaking an Initial Public Offering (IPO) on the BSE SME exchange to raise funds for store expansion, working capital, and general corporate purposes.
Company Overview:
- Founded: 2020 (as Jay Ambe Supermarkets Private Limited), converted to public limited in 2025.
- Brand Name: City Square Mart
- Business: Retail trading of FMCG, groceries, apparel, home goods, etc.
- Presence: 17 stores across Gujarat.
- Business Model: Company-owned and operated, Franchise-owned and company-operated, Franchise-owned and operated.
- Promoters: Jignesh Amratbhai Patel, Rutwijkumar Maganbhai Patel, Bhikhabhai Shivdas Patel, and Harshal Daxeshbhai Patel.
Strengths
- Strong Vendor Relationships: Jay Ambe Supermarkets boasts a robust network of over 1,700 direct manufacturers and suppliers across India. This extensive vendor base ensures a consistent supply of products, aids in price negotiation, and allows for a diverse product offering.
- Wide Product Range: The company offers a comprehensive selection of products, catering to various customer needs from daily groceries and FMCG to apparel, home goods, and toys. This broad assortment helps attract a diverse customer base.
- Scalable Franchise Model: The use of FOCO and FOFO models allows for capital-light expansion, enabling the company to grow its store network more rapidly and efficiently without significant upfront capital expenditure for each new outlet.
- Improving Financial Performance: The company has demonstrated a positive growth trajectory in revenue and profit after tax (PAT). For the fiscal year ending March 2025, revenue stood at approximately ₹47.4 crore with a PAT of ₹2.75 crore, indicating operational scaling and increasing profitability.
- Experienced Management Team: The promoters and management team possess experience in the retail sector, contributing to the company’s expansion and operational strategies.
- Customer-Friendly Policies: A customer-friendly refund policy is cited as a strength, aimed at building trust, enhancing customer satisfaction, and encouraging repeat business.
Risks
- Geographic Concentration: Currently, all of Jay Ambe Supermarkets’ stores are located within Gujarat. This concentration exposes the company to risks associated with regional economic downturns, local competition, or specific regulatory changes within the state.
- Dependence on Leased Properties: The company operates its stores from rented or leased properties, with many on short-term leases. Any disruption to these agreements, including demands for vacation by owners or inability to renew leases, could materially impact operations.
- Franchise Model Challenges: While scalable, the franchise model presents risks in maintaining uniform quality, brand standards, and customer experience across all outlets. Effective oversight and support for franchisees are crucial.
- Intense Competition: The retail sector is highly competitive, with established large-format retailers, unorganized players, and e-commerce platforms vying for market share. This can lead to pricing pressures and impact profitability.
- Working Capital Requirements: The business model, especially with an expanding store network and inventory needs, requires significant working capital. Any inability to meet these requirements could adversely affect operations and financial health.
- Inventory Management: Challenges in maintaining optimal inventory levels can lead to stockouts or excess inventory, impacting sales, customer satisfaction, and cash flow.
- Past Compliance Issues: There have been instances of delays in statutory filings and potential past non-compliance with taxation and other statutory requirements. Future delays or penalties could adversely affect the company’s financials.
Jay Ambe Supermarkets IPO Registrar
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: jayambe.smeipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- Beeline Capital Advisors Pvt.Ltd.
Jay Ambe Supermarkets Company Address
Jay Ambe Supermarkets Ltd.
A001,
Shubh Vivid, Por Kudasan,
Village- Kudasan, Gandhinagar
Gandhinagar, Gujarat, 382421
Phone: +916358027675
Email: cs@citysquaremart.com
Website: https://citysquaremart.com/
FAQs about Jay Ambe Supermarkets IPO
The IPO opens on September 10, 2025, and closes on September 12, 2025.
The price band is fixed at ₹74 to ₹78 per share.
The minimum lot size is 1,600 shares, requiring a minimum investment of ₹1,24,800 at the upper price band.
The total IPO issue size is ₹18.45 crore.
The shares will be listed on the BSE SME platform.
The tentative listing date for the shares is September 17, 2025.
The funds will be used for acquiring an existing store, fit-outs for three new stores, meeting working capital requirements, and for general corporate purposes.
The promoters are Jignesh Amratbhai Patel, Harshal Daxeshkumar Patel, Bhikhabhai Shivdas Patel, and Rutwijkumar Maganbhai Patel.
The promoter shareholding will decrease from 71.51% pre-issue to 52.46% post-issue.
The registrar for the IPO is MUFG Intime India Pvt. Ltd.
Disclaimer: This content is provided strictly for educational and informational purposes only. The securities or investments mentioned are based on publicly available information and should not be construed as investment advice or recommendations. Investors are advised to consult with their financial advisor before making any investment decisions.
