Jay Ambe Supermarkets Limited, operating under the well-known CITY SQUARE MART brand, is all set to launch its Initial Public Offering (IPO) in the BSE SME segment. The subscription period will run from September 9, 2025 to September 11, 2025, with the allotment expected on September 12, 2025 and the tentative listing date on September 16, 2025.

The company positions itself as an ultimate shopping destination, offering a wide selection of FMCG, groceries, general merchandise, consumer durables, household goods, home textiles, garments, footwear, toys, bed and bath products, travel accessories, home décor, handicrafts, stationery, and more. The company is known for delivering a convenient, budget-friendly, and enjoyable shopping experience under one roof.

Jay Ambe Supermarkets IPO Details

The IPO will raise ₹18.45 Crores through a Book Built Issue, consisting entirely of a Fresh Issue of 23.64 Lakh Shares. The price band is set between ₹74 to ₹78 per share, and the market capitalisation at the upper end of the price band will be ₹69.26 Crores.

The lot size of the IPO is 1,600 shares, and investors are required to subscribe for a minimum of 2 lots (3,200 shares). This results in a minimum investment requirement of ₹2,49,600, making it primarily suited for high-net-worth individuals (HNIs) and not small retail investors.

The Book Running Lead Manager (BRLM) of the issue is Beeline Capital Advisors Private Limited, with MUFG Intime India Private Limited (formerly Link Intime) as the registrar. The sole Market Maker for this IPO is Spread X Securities Private Limited.

Grey Market Premium (GMP)

As of September 5, 2025, the Grey Market Premium (GMP) of Jay Ambe Supermarkets IPO is ₹0, which indicates no unofficial premium over the issue price. GMP is widely tracked by investors to assess listing gains, but since it is an unorganised market, it cannot be fully relied upon for accurate price discovery.

IPO Allotment and Listing Dates

• IPO Open Date: September 9, 2025

• IPO Close Date: September 11, 2025

• Allotment Date: September 12, 2025

• Refunds Initiation: September 15, 2025

• Shares Credit to Demat: September 15, 2025

• Listing Date (Tentative): September 16, 2025

Investors can check allotment status on the registrar’s website by entering application number, PAN, or DP Client ID.

Company Overview and Management

Jay Ambe Supermarkets is led by an experienced management team comprising directors, key managerial personnel, and senior management. The company’s Chairman and Managing Director, Mr. Jignesh Amratbhai Patel, brings more than 19 years of experience in the supermarket business at both national and global levels. His leadership is central to the company’s growth strategies, innovation, and customer-centric approach.

Financial Performance

The company has shown steady growth in financials over the last three years:

• Revenue from Operations:

  • FY2025: ₹4,740.00 Lakhs

  • FY2024: ₹3,341.29 Lakhs

  • FY2023: ₹3,269.15 Lakhs

• EBITDA:

  • FY2025: ₹503.32 Lakhs

  • FY2024: ₹318.69 Lakhs

  • FY2023: ₹124.52 Lakhs

• Profit After Tax (PAT):

  • FY2025: ₹275.37 Lakhs

  • FY2024: ₹154.89 Lakhs

  • FY2023: ₹35.30 Lakhs

The figures indicate consistent revenue growth and improved profitability, highlighting the company’s strong market positioning.

Key Ratios and Valuations

• Pre-Issue EPS (FY24): ₹4.5

• Post-Issue EPS (FY24): ₹3.10

• Pre-Issue P/E Ratio: 17.33x

• Post-Issue P/E Ratio: 25.15x

• Industry P/E Ratio: 17x

• ROCE: 24.12%

• ROE: 26.07%

• RoNW: 20.29%

The valuation metrics indicate that the IPO is fully priced, especially when compared to the industry average P/E.

Objects of the Issue

The company plans to utilise the IPO proceeds as follows:

1. ₹425.00 Lakhs for purchase of its existing store located at Nana Chiloda, Ahmedabad.

2. ₹463.32 Lakhs for purchase of fit-outs for three new stores.

3. ₹450.00 Lakhs to meet working capital requirements.

4. Remaining proceeds for general corporate purposes.

Expert Recommendation

While the company demonstrates solid growth in revenues, profitability, and operational scale, the IPO comes at a fully priced valuation. The absence of GMP and the high minimum investment further reduce the chances of short-term listing gains. Analysts recommend that investors avoid subscribing for listing gains but may consider investing if they have a long-term view on the organised retail sector growth.

The Upcoming IPOs in this week and coming weeks are Karbonsteel Engineering, Taurian MPS, L. T. Elevator, Galaxy Medicare, Airfloa Rail Technology, Dev Accelerator, Jay Ambe Supermarkets, Urban Company, Shringar House of Mangalsutra, .

The Current active IPO are Nilachal Carbo Metalicks, Krupalu Metals, Vashishtha Luxury Fashion, Sharvaya Metals, Vigor Plast India, Austere Systems.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.