Jay Ambe Supermarkets Limited is coming up with its Initial Public Offering (IPO) that will open for subscription on 09 September 2025 and close on 11 September 2025. The issue size is ₹18.45 crore, consisting entirely of a Fresh Issue of 23.64 lakh shares. The IPO is being listed on the BSE SME platform and is an important event for investors tracking the supermarket and retail sector IPOs.

Company Overview

The company operates its business under the brand CITY SQUARE MART, which is marketed as an ultimate shopping destination for consumers. The company’s mission is to redefine shopping by making it convenient, enjoyable, and budget-friendly.

Under the CITY SQUARE MART umbrella, the supermarket offers a wide range of products, including:

• FMCG and Groceries

• General Merchandise and Consumer Durables

• Household products and Home textiles

• Garments and Footwear

• Toys, Bed and Bath, Travel and Luggage

• Home Decor and Handicrafts

• Stationery and more

This diverse product range allows the company to cater to a large customer base under one roof.

IPO Details

• Issue Size: ₹18.45 crore

• Issue Type: Book Built Issue

• Shares Offered: 23.64 lakh (Fresh Issue)

• Price Band: ₹74 to ₹78 per share

• Market Capitalisation (at upper price band): ₹69.26 crore

• Lot Size: 1,600 shares

• Minimum Investment (Retail): 2 lots = 3,200 shares = ₹2,49,600

The allotment date for the IPO is 12 September 2025, while the tentative listing date on the BSE SME is 16 September 2025.

Book Running Lead Manager and Market Maker

• Lead Manager: Beeline Capital Advisors Private Limited

• Registrar: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

• Market Maker: Spread X Securities Private Limited

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for Jay Ambe Supermarkets IPO is currently at ₹0, which means there is no premium or discount expected in the unlisted market. The expected listing price is ₹78, equal to the upper band issue price.

As of 05 September 2025, the trend is showing:

• IPO Price: ₹78

• Expected Listing Price: ₹78

• GMP: ₹0 (0.00%)

It is important to remember that the Grey Market is unregulated, and the GMP trend is only for educational and informational purposes.

Allotment Process

Investors can check their allotment status on the registrar’s website once it is declared on 12 September 2025. The steps are:

1. Navigate to the IPO allotment status page.

2. Select Jay Ambe Supermarkets Limited IPO from the dropdown menu.

3. Enter your application number, PAN, or DP Client ID.

4. Submit the details to check allotment.

Objectives of the IPO

The company intends to use the Net Proceeds of the IPO towards:

1. ₹425 lakh for purchase of an existing store at Nana Chiloda, Ahmedabad.

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

3. ₹450 lakh for working capital requirements.

4. Balance for general corporate purposes.

These objectives show the company’s focus on expansion, modernisation, and strengthening of retail operations.

Management and Leadership

The company is led by an experienced management team, headed by Chairman and Managing Director, Mr. Jignesh Amratbhai Patel, who has over 19 years of experience in both national and global supermarket chains.

The board and senior management team play an active role in:

• Formulating business strategies

• Driving innovation and technology integration

• Diversification and expansion

• Ensuring customer-focused operations

Financial Performance

Jay Ambe Supermarkets has shown a steady financial growth in the past three years:

• Revenue from Operations:

  • FY25: ₹4,740.00 lakh

  • FY24: ₹3,341.29 lakh

  • FY23: ₹3,269.15 lakh

• EBITDA:

  • FY25: ₹503.32 lakh

  • FY24: ₹318.69 lakh

  • FY23: ₹124.52 lakh

• Profit After Tax (PAT):

  • FY25: ₹275.37 lakh

  • FY24: ₹154.89 lakh

  • FY23: ₹35.30 lakh

This clearly indicates a consistent upward trend in profitability.

Valuation Metrics

Some key valuation indicators:

• 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 (FY24): 24.12%

• ROE (FY24): 26.07%

• RoNW: 20.29%

The valuations suggest the IPO is fully priced compared to peers.

Investment Recommendation

Although Jay Ambe Supermarkets has shown good financial growth and strong management, the GMP trend at ₹0 indicates there may not be listing gains. The IPO is priced slightly higher than industry averages, making it less attractive for short-term investors.

Thus, the IPO is recommended to be avoided for listing gains, but long-term investors who believe in the retail expansion story may track it for future opportunities.

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.