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Ratnadeep Retail Files IPO Papers With SEBI To Raise Rs 400 Crore Via Fresh Issue
Organised food and grocery retailer Ratnadeep Retail Ltd has filed draft papers with capital markets regulator Securities And Exchange Board Of India (SEBI) to raise funds through an Initial Public Offering (IPO).
The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer For Sale (OFS) of nearly 1.49 crore equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
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The promoters who are offloading shares under the OFS are — Sandeep Agarwal, Manish Bhartiya and Mitesh Bhartiya.
As part of the OFS, — Sandeep Agarwal will offload 85,44,500 equity shares, while Mitesh Bhartiya and Manish Bhartiya will sell 31,57,750 equity shares each.
The Hyderabad-based company proposes to utilise Rs 260 crore for setting up new stores under its Ratnadeep and National Mart formats, Rs 40 crore for debt payment and the balance towards general corporate purposes.
Ratnadeep Retail, in consultation with the book-running lead managers, may also undertake a pre-IPO placement of up to Rs 80 crore. If completed, the size of the fresh issue will be reduced to the extent of funds raised in the pre-IPO placement.
The company operates an organised retail business focused on food, grocery and value fashion across Andhra Pradesh, Telangana and Karnataka.
It offers more than 30,000 Stock Keeping Units (SKUs) spanning fresh produce, FMCG products, staples, general merchandise and apparel.
As of March 31, 2026, the company operated 190 stores under two formats: Ratnadeep, comprising neighbourhood supermarkets under ‘Ratnadeep – Mindful Living’ and premium food stores under ‘Ratnadeep Select’, and National Mart, its value-led hypermarket format, which also houses Style Mart for affordable fashion products.
For FY26, Ratnadeep Retail reported revenue from operations of Rs 2,223 crore, while profit after tax stood at about Rs 37 crore.
According to the draft papers, the company’s listed peers include Avenue Supermarts, Vishal Mega Mart, Spencers Retail and Trent.
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As per Lattice Report, Ratnadeep Retail operates in South India’s food and grocery market which is estimated at Rs 18.3 lakh crore in Fiscal 2026 and projected to reach Rs 31.8 lakh crore by Fiscal 2031. The region is expected to grow at 11.6 per cent over Fiscal 2026 to Fiscal 2030, outpacing the overall India market.
Motilal Oswal Investment Advisors, Axis Capital and DAM Capital Advisors are the book-running lead managers to the issue.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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