Ratnadeep Retail files DRHP with Sebi for IPO

Hyderabad: Food, grocery and value-fashion retailer Ratnadeep Retail Ltd has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi for its proposed initial public offering (IPO).The Hyderabad-headquartered retailer proposes to raise up to ₹400 crore via a fresh issue of equity shares as well as an offer for sale (OFS) of up to 1,48,60,000 equity shares by the promoter-selling shareholders. The promoters of the company are Sandeep Agarwal, Manish Bhartiya, Mitesh Bhartiya, Yash Agarwal and Kavita Agarwal.The company may also consider a pre-IPO placement of equity shares aggregating up to ₹80 crore before filing the red herring prospectus (RHP) with the Registrar of Companies.

If completed, the amount raised through the placement will be deducted from the fresh issue.As per the DRHP, Ratnadeep Retail plans to use ₹40 crore from the net proceeds for repayment or prepayment of loan facilities, ₹260 crore for setting up new stores under the Ratnadeep and National Mart formats, with the rest for general corporate purposes.The retailer, which operates in Telangana, Andhra Pradesh and Karnataka, offers more than 30,000 stock-keeping units across fresh produce, FMCG, staples, general merchandise and apparel.

As of March 31, 2026, it operated 190 stores under Ratnadeep, including Ratnadeep - Mindful Living neighbourhood supermarkets and Ratnadeep Select premium food stores, and National Mart, its value-led hypermarket format, which includes Style Mart for affordable fashion.Ratnadeep Retail reported revenue from operations of ₹2,223 crore in FY26 and a profit after tax of ₹36.7 crore. Motilal Oswal Investment Advisors, Axis Capital and DAM Capital Advisors are the book-running lead managers for the issue.