India , July 3: Hyderabad headquartered Ratnadeep Retail Limited, an organised food and grocery and value-fashion retailer, with presence across Andhra Pradesh, Telangana and Karnataka, has filed its draft red herring prospectus with capital markets regulator SEBI to raise funds through an initial public offering .
According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to ₹ 400 crore and an offer for sale of up to 1,48,60,000 equity shares by the Promoter Selling Shareholders. Sandeep Agarwal, Manish Bhartiya, Mitesh Bhartiya, Yash Agarwal and Kavita Agarwal are the Promoters of the company.
Ratnadeep Retail proposes to utilize ₹ 40 crore from the the Net Proceeds of the Fresh Issue towards repayment/ prepayment of loan facilities availed by the company, ₹ 260 crore for setting up of new stores under the Ratnadeep and National Mart formats, and the remaining amount for general corporate purposes.
Ratnadeep Retail offers a wide and diversified product assortment of more than 30,000 SKUs across categories like fresh produce, FMCG, staples, general merchandise and apparel, enabling it to cater to the full spectrum of customer demand spanning essential, recurring and discretionary consumption.
As of March 31, 2026, Ratnadeep Retail operated 190 stores under two formats – Ratnadeep, comprising ‘Ratnadeep – Mindful Living’ and ‘Ratnadeep Select’ , and National Mart, its value-led hypermarket format, within which it also has Style Mart offering affordable fashion products.
The company, in consultation with the BRLMs, may consider a Pre-IPO Placement of Equity Shares aggregating up to ₹ 80 crores, prior to filing of the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the amount raised will be reduced from the Fresh Issue.
Ratnadeep Retail’s FY26 revenue from operations stood at ₹ 2,223 crore, recording a 15% CAGR from FY24. The profit after tax for the same period stood at ₹ 36.7 crore.
Avenue Supermarts, Vishal Mega Mart, Spencers Retail and Trent are the listed peers of the company as per the DRHP.
Motilal Oswal Investment Advisors, Axis Capital and DAM Capital Advisors are the book running lead managers to the offer.
