Jay Ambe Supermarkets' IPO: Expanding Horizons in Retail

Jay Ambe Supermarkets Limited is set to issue an IPO with the aim to expand its retail presence by acquiring existing stores, opening new ones, and enhancing working capital. BSE has approved its prospectus, and the company boasts successful operations across 15 outlets in Gujarat under the City Square Mart brand.

The Bombay Stock Exchange has green-lit the Draft Red Herring Prospectus for Jay Ambe Supermarkets Limited's upcoming IPO. The offering plans to issue up to 2,364,800 equity shares, each priced at ₹10, to fund strategic expansions and bolster the company's capital stability.

The proceeds will primarily target acquiring an established store in Ahmedabad, setting up three new outlets, and satisfying working capital needs. This expansion effort is part of a more extensive strategy to strengthen the company's foothold in Gujarat's booming retail sector.

Under the brand name City Square Mart, Jay Ambe has rapidly expanded its retail space to over 93,000 square feet across 15 stores within just six years. The push for an enhanced shopping experience highlights its commitment to customer satisfaction as it aims to elevate living standards through quality service and competitive pricing.

(With inputs from agencies.)