Patel Retail Ltd IPO

Our Company was originally incorporated as Patel Retail Private Limited at Ambernath, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated June 13, 2007 issued by the Registrar of Companies, Maharashtra, Mumbai. Thereafter, our Company was converted into a public limited company, approved vide shareholders' resolution dated July 18, 2023, pursuant to which the name of our Company was changed to Patel Retail Limited and a fresh certificate of incorporation consequent upon change of name on conversion to public limited company was issued by the Registrar of Companies, Maharashtra, Mumbai dated August 28, 2023.

The Indian retail sector is experiencing a significant transformation owing to a range of shifting socio-economic factors, increasing digital and new age technology influence along with a rapidly transforming consumer landscape. Over the year, India has evolved as a thriving consumer-driven economy, making it the 4th largest retail market globally after US, China, and Japan and has thus become one of the most attractive markets for global retailer to expand their footprints in India. At present the retail sector in India accounts for over 10% of the country's GDP. Food & Grocery, Apparel & footwear, and consumer electronics are the largest retail segments, constituting 63%, 9% and 7% respectively of the retail market. The share of organized retail in the total retail industry is currently estimated 12%-15%. The organised retailing segment is estimated to be valued at USD 186 Bn in 2024 and is projected to grow to USD 267 Bn by 2033. Major retail chains are expanding their presence beyond metros and Tier-1 cities to tier-2, tier-3 cities and even in tier-4 cities owing to lower rental rates and operating costs. Today, the branded & packaged spice segment is estimated to account for 30 - 40% of the total spice market in India. According to World Spice Organization (WSO), the branded spice market in India is estimated to be worth INR 35,000 Crore. India remains the largest exporter of spices globally, with exports valued at INR 369.6 billion in FY 2024. Between 2017 and 2023, the branded wheat flour market in India witnessed a CAGR of 4.9%, with its market size expanding from roughly INR 15,000 crores to INR 20,000 crores within the given time period.

We are primarily engaged as a retail supermarket chain operating in the state of Maharashtra, in the MMR region in the districts of Thane and Raigad viz. Ambernath, Badlapur, Bhiwandi, Diva, Dombivli, Kalyan, Khopoli, Murbad, Neral, Padgha, Shahapur, Shahad, Titwala, Ulhasnagar, Vasind and Vangani, with focus on value retail, offering food, non-food (FMCG), general merchandise and apparel catering to the needs of the entire family. We launched our private label goods under our brands Patel Fresh and Patel Essentials, in the year 2010, Blue Nation in the year 2014 and Indian Chaska in the year 2018. Further, we started our processing activity in our Facility 2 and Agri-cluster in Kutch, Gujarat in the year 2016 and 2022 respectively.