Supermarket chain Ratnadeep Retail gets Sebi nod for IPO

Hyderabad-based Ratnadeep Retail has received approval from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering. The proposed transaction consists of a fresh issue of equity shares aggregating INR 400-Cr and an offer for sale of 1.49 crore equity shares by promoter shareholders. The company may also raise INR 80-Cr via an anchor issue. Motilal Oswal Investment Advisors, Axis Capital, and DAM Capital Advisors have been appointed as the book-running lead managers to the issue.Ratnadeep is a food, grocery, and value-fashion retailer. As of March 31, 2026, the company operated 190 stores across two retail formats: Ratnadeep, which includes its neighbourhood supermarket and premium food retailing chains, and National Mart, a hypermarket chain that houses its affordable fashion brand, Style Mart. It offers a diversified portfolio of over 30,000 stock-keeping units (SKUs) across fresh produce, fast-moving consumer goods, staples, general merchandise, and apparel.The company plans to use INR 40-Cr from the net proceeds of the fresh issue towards the repayment of borrowings. A further INR 260-Cr will be deployed to expand its retail footprint through the addition of new stores under the Ratnadeep and National Mart formats.In FY26, the company reported revenue from operations of INR 2,223-Cr, with a profit after tax of INR 36.7-Cr.