Ratnadeep Retail files Rs 400 Cr IPO papers with SEBI; plans major store expansion
Hyderabad, July 2 (TNT): Organised grocery and value retail chain Ratnadeep Retail Limited has filed its Draft Red Herring Prospectus (DRHP) with markets regulator Securities and Exchange Board of India for an initial public offering (IPO) aimed at raising ₹400 crore through a fresh issue of equity shares.
The proposed issue also includes an offer for sale (OFS) of 1.48 crore shares by promoter shareholders, marking partial stake dilution ahead of the listing.
According to the DRHP, the Hyderabad-based company plans to utilise the proceeds from the fresh issue primarily for expansion, with ₹260 crore earmarked for setting up new stores under the Ratnadeep and National Mart formats.
Additionally, ₹40 crore will be used for repayment or prepayment of borrowings, while the remaining funds will be allocated towards general corporate purposes.
The company may also raise up to ₹80 crore via a pre-IPO placement, which would reduce the size of the fresh issue.
The company operates across Andhra Pradesh, Telangana and Karnataka, with a network of 190 stores as of March 2026.
The company runs multiple formats including neighbourhood supermarkets, premium grocery outlets and value hypermarkets, alongside an affordable fashion vertical.
Its product portfolio spans 30,000+ stock keeping units (SKUs) across fresh produce, FMCG, staples, general merchandise and apparel.
For FY26, the company reported revenue from operations of ₹2,223 crore and a profit after tax (PAT) of ₹36.7 crore, while recording a revenue CAGR of around 15 per cent between FY24 and FY26.
In the DRHP, Ratnadeep Retail has identified listed peers including Avenue Supermarts, Vishal Mega Mart, Spencer’s Retail and Trent Ltd.
Motilal Oswal Investment Advisors, Axis Capital and DAM Capital Advisors are the book-running lead managers to the issue.
The proposed IPO is aimed at funding the company’s expansion plans, particularly the rollout of new stores, while strengthening its presence and brand in India’s organised food and grocery retail market.
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