Jay Ambe Supermarkets IPO Subscribed 1.5 Times on Day 1, Strong Demand from NIIs

Ahmedabad, September 10, 2025: Jay Ambe Supermarkets Limited (BSE SME: CITYSQUARE) saw a robust beginning to its ₹18 crore initial public offering, and the issue got subscribed 1.50 times on the first day of bidding, according to BSE figures at 3:39 PM.

Day 1 Subscription Status (as on 3:39 PM, September 10)

By 3:39 PM on the first day of subscription (September 10), Jay Ambe Supermarkets’ IPO had attracted strong bids, with 23.55 lakh shares being bid for against the 15.74 lakh shares available, amounting to an overall subscription of 1.50 times.

The non-institutional investor (NII) segment led the demand, subscribing 3.68 times. Within this, bids higher than ₹10 lakh were especially robust at 5.13 times, while bids up to ₹10 lakh were subdued at 0.68 times.

The retail investor segment also reflected good subscription, with bids for 11.13 lakh shares compared to 7.87 lakh on offer, a 1.14 times subscription. Yet, the qualified institutional buyers (QIBs) segment did not subscribe any amount on Day 1. Applications were nil from employees, shareholders, and policyholders.

Anchor Investor Allocation

Before Jay Ambe Supermarkets IPO, the company raised ₹5.24 crore from anchor investors on September 9 by issuing 6,72,000 equity shares at ₹78 per share. The anchor investors were Shine Star Build-Cap Pvt. Ltd., Nexus Equity Growth Fund Scheme-1, and Craft Emerging Market Fund PCC-Elite Capital Fund.

IPO Key Terms

Jay Ambe Supermarkets is seeking to raise ₹18 crore through the sale of 23,64,800 equity shares. Price band has been finalized at ₹74 to ₹78 per share. The investors may subscribe in lots of 1,600 shares, aggregating a minimum investment of ₹1,24,800 at the upper price band. The public issue will be available for subscription between September 10 and September 12, 2025. Post offer, the shares are to be listed on the BSE SME platform on September 17, 2025.

Established in 2018, Jay Ambe Supermarkets Limited has 17 retail stores in Gujarat under the brand name City Square Mart. It sells FMCG, grocery, textiles, apparel, toys, footwear, and household goods on franchise-driven models FOCO and FOFO.

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