CKK Retail Mart IPO Opens for Bidding: Will This ₹88 Crore SME Issue See Strong Demand Before Closing?
The CKK Retail Mart IPO has entered the primary market at a time when investor interest in SME IPOs remains selective rather than euphoric. While the broader IPO market has seen mixed responses in recent months, SME offerings continue to attract investors looking for high-growth opportunities and potential listing gains. However, such issues also carry higher liquidity and volatility risks, making due diligence critical.
This book-built issue aims to raise ₹88.02 crore and combines both fresh capital infusion and an offer for sale. The IPO opened on January 30, 2026 and will close on February 3, 2026. The company is scheduled to list on the NSE SME platform on February 6, 2026. With only a short bidding window left, investor participation in the final days will largely determine how the issue is perceived in the market.
CKK Retail Mart IPO Structure Reflects Growth Funding and Partial Exit
The IPO is structured as a mix of fresh issue and offer for sale, which indicates both capital-raising intent and partial promoter dilution. The fresh issue of 0.44 crore shares aggregating to ₹71.85 crore will help the company fund expansion and operational needs, while the offer for sale of 0.10 crore shares worth ₹16.17 crore allows existing shareholders to monetize part of their holdings.
The total issue size stands at 54,00,000 shares. The face value is ₹10 per share and the IPO follows the book-building route, allowing price discovery within a band. Post-issue shareholding will rise to 1,93,68,000 shares from the pre-issue base of 1,49,60,000 shares, indicating equity dilution but also a stronger capital base.
The book-running lead manager is Oneview Corporate Advisors, while Bigshare Services acts as registrar. The designated market maker is SVCM Securities, which will provide liquidity support post listing.
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The IPO consists of:
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Fresh Issue: 0.44 crore shares aggregating to ₹71.85 crore
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Offer for Sale: 0.10 crore shares aggregating to ₹16.17 crore
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Total Issue Size: 54,00,000 shares (₹88.02 crore)
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Face Value: ₹10 per share
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Issue Type: Bookbuilding IPO
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Listing: NSE SME
Pre-issue shareholding: 1,49,60,000 shares
Post-issue shareholding: 1,93,68,000 shares
Price Band and Lot Size Make This a High-Commitment SME Bet
The IPO price band is fixed at ₹155 to ₹163 per share, which places the valuation in a zone where investors will closely examine fundamentals before committing. SME IPOs typically require larger capital commitments compared to mainboard IPOs, and this issue is no exception.
The lot size is 800 shares, but retail investors must apply for a minimum of two lots, translating to 1,600 shares. At the upper price band, this requires an investment of ₹2,60,800. For HNIs, the minimum starts at three lots and can go significantly higher. Such ticket sizes naturally restrict participation to serious investors rather than casual applicants, which often results in more measured subscription patterns.
The price band is ₹155–₹163 per share.
Lot Size Details
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Lot Size: 800 shares
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Retail Minimum: 2 lots (1,600 shares)
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Retail Investment: ₹2,60,800
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S-HNI Minimum: 3 lots (2,400 shares) ₹3,91,200
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S-HNI Max: 7 lots (5,600 shares) ₹9,12,800
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B-HNI Minimum: 8 lots (6,400 shares) ₹10,43,200
IPO Timeline Leaves Little Room for Delay in Decision-Making
The IPO opened on January 30 and will close on February 3. Allotment is expected on February 4, with refunds and share credit scheduled for February 5. Listing is slated for February 6.
Because SME IPO windows are short, many investors wait until the final day to gauge demand before applying. This means subscription numbers can change meaningfully on the last day.
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IPO Open: Jan 30, 2026
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IPO Close: Feb 3, 2026
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Allotment: Feb 4, 2026
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Refunds: Feb 5, 2026
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Share Credit: Feb 5, 2026
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Listing: Feb 6, 2026
Subscription Data Shows Institutional Interest but Retail Caution
As of Day 2, the IPO was subscribed 0.74 times overall. Institutional interest appears relatively healthier compared to retail demand. QIB subscription crossed the full mark, while retail remained below half.
Retail investors may be exercising caution due to the flat GMP and current market volatility. Meanwhile, bNII interest is stronger than sNII, indicating that larger investors are selectively participating while smaller HNIs remain cautious.
As of Feb 2 (Day 2, 6:15 PM), the IPO was subscribed 0.74 times overall.
Category-wise Subscription
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Anchor: 1x
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Market Maker: 1x
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QIB (Ex Anchor): 1.12x
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NII: 0.70x
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bNII: 1.02x
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sNII: 0.05x
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Retail: 0.48x
Total bids: 33,68,800 shares
Applications: 568
Category Allocation Provides Balanced Investor Mix
The issue allocates 33.72% to retail investors, 37.48% to QIBs and 23.73% to NIIs. The presence of anchor investors provides some confidence, but sustained demand across categories will be crucial for a strong close.
A balanced allocation ensures that no single investor group dominates the book, which can support more stable post-listing price action.
CKK Retail Mart IPO offers 0.51 crore shares to the public.
Breakup:
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Retail: 18,20,800 shares (33.72%)
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QIB: 20,24,000 shares (37.48%)
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Anchor: 6,00,000
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QIB Ex-Anchor: 14,24,000
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NII: 12,81,600 shares (23.73%)
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bNII: 8,54,400
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sNII: 4,27,200
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Market Maker: 2,73,600 shares (5.07%)
GMP Trend Signals Neutral Listing Expectations
The GMP has consistently remained at ₹0 for several days. This suggests the grey market is not expecting listing gains at this stage. Estimated listing price stands equal to the cap price.
A flat GMP does not necessarily imply poor fundamentals, but it does indicate limited speculative excitement. Many investors interpret this as a sign to evaluate the company based on long-term prospects rather than short-term listing pop.
GMP Trend Summary
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Jan 25–Feb 2: GMP steady at ₹0
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Estimated listing price: ₹163
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Expected gain/loss: 0%
Financial Metrics Show Stability but Valuation Comfort Matters
The company reports ROE of 18.34%, ROCE of 22.58% and EBITDA margin of 7.38%. These numbers indicate operational stability, though margins are not unusually high for a growth retail business.
The price-to-book ratio of 5.73 suggests investors are paying a premium for growth expectations. Whether this valuation sustains will depend on execution and revenue scalability.
Key Performance Indicators (Latest)
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ROE: 18.34%
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ROCE: 22.58%
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RoNW: 16.80%
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PAT Margin: 5.39%
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EBITDA Margin: 7.38%
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Price-to-Book: 5.73
Here’s What Happened Today and Why Traders Reacted
Traders are reacting to moderate subscription, flat GMP and SME liquidity dynamics. Unlike high-demand IPOs that create rush buying, this issue is seeing analytical participation.
Investors appear to be evaluating fundamentals rather than chasing momentum, which reflects a maturing SME IPO market.
Impact on Investor Portfolios
For investors, this IPO fits a higher-risk, selective allocation strategy. It may suit those with:
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Long-term horizon
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SME exposure appetite
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Ability to handle lower liquidity
Conservative investors may prefer to track post-listing performance.
Final Take: A Selective SME Opportunity, Not a Speculative Frenzy
CKK Retail Mart IPO is shaping up as a research-driven opportunity rather than a hype-driven one. Institutional interest provides some support, but retail participation will be key in the final days.
