Safecure IPO...
28 Oct, 2025
Jay Ambe Supermarkets IPO
Jay Ambe Supermarkets IPO sum of ₹18.45 crore is a 100% fresh issue with no OFS. The IPO is a book-building model, is ₹10 per equity share and the price band is ₹74 to ₹78; the bidding process will start on September 9 and end on September 11, while listing on BSE SME on September 16. The minimum application has been fixed at 1,600 shares, for which the bidder has to spend a maximum of ₹1.248 lakh. Spread X Securities has been named as the market maker for the issue. For the category-wise allocation ratio for block bidders disclosure on the QIB (50%), NII (15%) and Retail (35%), it is consistent with a platform summary for our issue.
Company Background
Jay Ambe Supermarkets was established in 2020 with its headquarters in Gandhinagar. Jay Ambe operates supermarkets under the brand City Square Mart – offering an extensive range of FMCG, groceries, home textiles, apparel, playthings, footwear, home décor, gift articles and household needs since its inception in 2018. The company now boasts a total of 17 outlets across Gujarat. The business model is based on FOCO, FOFO and company-operated stores (COCOs) with a focus on good quality leased retail spaces at the best visibility locations, standardized processes and quality product parameters to ensure customers get the best possible value for their money.
Operations & Product Range
Facility & Production
The business of Jay Ambe Supermarkets IPO is a Retail operation, so most of the operations are organized into (i) store network operations & management, (ii) supply-chain procurement with over 1,700 manufacturers/ suppliers, (iii) inventory & merchandising and (iv) point of sale systems (across formats). The proceeds of the IPO are being used to acquire one existing store and to fit out a further three new stores. Daily replenishment and promotions are supported through centralized warehousing, vendor management and IT systems, as the company scales using franchise models (FOCO/FOFO) with standardized layouts and assortment.
Brands & Market Presence
All the company stores run under the City Square Mart banner and have presence in Gandhinagar, Ahmedabad as well as other locations within Gujarat serving mass and value shoppers with multi-category offerings. The company has 17 stores and 93,000 sq ft of retail sales area as per current disclosure, indicative of an expanding footprint. The brand promise is rooted in affordability, breadth of assortment and convenience, where the vision is to be the local friendly supermarket across Tier-2/3 catchments of Gujarat.
Revenue Channels
- Most sales come from in-store retail of FMCG and groceries, with private labels and promotional schemes contributing to widening margins and footfall.
- Non-food categories such as home textiles, clothing, footwear, toys and homeware deliver a higher margin mix and support seasonal campaigns.
- Franchise fees and royalties from FOCO/FOFO models contribute to ancillary income streams as the network expands.
- Reported Financials show a revenue of ₹47.4 crore and PAT of ₹2.75 crore in FY25 as compared to revenue of ₹33.4 crore and ₹1.55 crore PAT in FY24, indicating operational scaling.
Management & Shareholding
Promoters & Shareholding
The Jay Ambe Supermarkets IPO is promoted by Jignesh Amratbhai Patel along with family members and they will continue to control the strategy and operations of the company. The IPO is a 100% fresh issue of shares and proceeds will be used to dilute promoters' equity through primary issuance, but do not affect the post-listing stake held by the promoters, subject to post-issue holding.
Board Members
Jay Ambe Supermarkets IPO leadership includes managing director and chairman Jignesh Amratbhai Patel and company secretary Renuka Shah (as per their public profiles) backed by governance in line with SME listing norms. Issue intermediaries are Beeline Capital Advisors as book-running lead manager, MUFG Intime India as registrar and Spread X Securities as market maker.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Jay Ambe Supermarkets IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Jay Ambe Supermarkets IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 9, 2025 to September 11, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹74 to ₹78 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 23,64,800 shares (aggregating up to ₹18.45 Cr) |
| Reserved for Market Maker | 1,18,400 shares (aggregating up to ₹0.9235 Cr) Spread X Securities Pvt.Ltd. |
| Net Offered to Public | 22,46,400 shares (aggregating up to ₹17.52 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 65,15,154 shares |
| Share Holding Post Issue | 88,79,954 shares |
Jay Ambe Supermarkets IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Sep 9, 2025 |
| IPO Close Date | Thu, Sep 11, 2025 |
| Thu, Sep 11, 2025 | Fri, Sep 12, 2025 |
| Initiation of Refunds | Mon, Sep 15, 2025 |
| Credit of Shares to Demat | Mon, Sep 15, 2025 |
| Tentative Listing Date | Tue, Sep 16, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2025 |
Jay Ambe Supermarkets IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,49,600 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,49,600 |
| S-HNI (Min) | 3 | 4,800 | ₹3,74,400 |
| S-HNI (Min) | 8 | 12,800 | ₹9,98,400 |
| B-HNI (Min) | 9 | 14,400 | ₹11,23,200 |
Jay Ambe Supermarkets IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 71.51% |
| Promoter Holding Post Issue | 52.46% |
Competitive Strength:
- ● Focused presence in Gujarat with 17 standardized supermarkets under a single brand, enabling cluster efficiencies and local market insight.
- ● Scalable FOCO/FOFO franchise models and company-operated stores allow capital-light expansion with consistent formats and operations.
- ● Broad vendor network (1,700+ manufacturers/suppliers) supports availability, pricing and assortment across FMCG and non-food categories.
- ● Improving financial metrics with FY25 revenue of ~₹47.4 crore and PAT of ~₹2.75 crore indicate growth and operating leverage.
Jay Ambe Supermarkets IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 26.78 | 47.4 | 2.75 | 13.57 | 8.71 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 22 | 33 | 2 | 8 | 9 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 16.79 | 32.69 | 0.35 | 3.09 | 7.47 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 26.07% |
| ROCE | 24.12% |
| Debt/Equity | 0.64 |
| RoNW | 20.29% |
| PAT Margin | 5.82% |
| EBITDA Margin | 10.53% |
| Price to Book Value | 6.2 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.23 | 3 |
| P/E (x) | 18.45 | 25 |
Objectives of Jay Ambe Supermarkets IPO
- Purchase of the existing store at Nana Chiloda, Ahmedabad, to consolidate network assets under company ownership.
- Purchase of fit-outs for three new stores to accelerate expansion and standardize customer experience.
- Meet working capital requirements for inventory build and vendor terms as the store base grows.
- General corporate purposes include IT systems, marketing and strengthening corporate infrastructure.
Conclusion
The Jay Ambe Supermarkets IPO provides an opportunity to play on a regional supermarket chain scaling up via a combination of the franchise and company-owned models under the City Square Mart banner, where use of proceeds is earmarked for store acquisition, fit-outs and working capital to back the near-term expansion. The Gujarat 'cluster' strategy, vendor depth, standardised operations and profitability uptick keep the company well placed to extend penetration in core markets as it prepares for judicious expansion.
RHP:
DRHP:
Read more :
Frequently asked Questions (FAQs )
-
What are the Jay Ambe Supermarkets IPO dates and listing timeline?
The IPO opens on September 9 and closes on September 11, with allotment on September 12 and listing on September 16 on BSE SME.
-
What is the price band and lot size of Jay Ambe Supermarkets IPO?
The price band is ₹74–₹78 per share and the minimum lot size is 1,600 shares.
-
How big is the issue and what is the structure?
The total size is about ₹18.45 crore as a 100% fresh issue with no offer for sale.
-
What is the brand and how many stores are operational?
The brand is City Square Mart with 17 stores across Gujarat as of 2025.
.jpg)
