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SS Retail Limited (SS Mobiles) IPO Closing Today Apply only For Listing Gains with a view to exit immediately on the listing day SS is a Multi-brand Mobile Phones Retail Chain, it also sells Allied accessories and provides mobile exchange services It has ~500 Stores in 200+ cities, ~91% stores and ~90% revenues from Maharashtra and now looking to expand in another 3-4 states, it's stores format is a blend of CoCo, CoFo and FoFo In FY26, There was a bad-debt of ~11.5 Crore, it was an advanced paid to one of company's largest national distribution partner which is now written off, It was 28.5% of company's annual profits; No proper disclosure, no proper mentioning in Risk Factors, no name of the party as well Valuations : 53× PE FY26 ~27-28× EV/Pre-IndAS Adj.EBITDA 25× FY28E PE ~15× FY28E EV/Pre-IndAS Adj.EBITDA Extremely Expensive It's a good company but at a pathetic price, there's an unnecessary hype, just take those listings gains and sell and come back when Valuations make sense Geographical concentration, Thin margin business, high Working Capital Requirements, Some non-disclosures, Intense competition and Expensive Valuations don't give a comfort Do your own due diligence