Ratnadeep Retail, a food and grocery and value-fashion retailer, with presence across Andhra Pradesh, Telangana and Karnataka, has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise funds through an initial public offering (IPO).
According to the DRHP, the proposed IPO of the Hyderabad-based firm is a combination of a fresh issue of equity shares aggregating up to ₹400 crore and an offer for sale (OFS) 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 utilise ₹40 crore from the the iet 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’ (neighbourhood supermarkets) and ‘Ratnadeep Select’ (premium food stores), 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 (PAT) for the same period stood at ₹36.7 crore.