Ratnadeep Retail gets Sebi approval for IPO that includes Rs 400 crore fresh issue in addition to OFS | Hyderabad News

Hyderabad: Organised food, grocery and value fashion retailer Ratnadeep Retail Limited has received the capital markets regulator Securities and Exchange Board of India’s (Sebi) approval to raise funds through an initial public offering (IPO), according to an update on the regulator’s website on Friday.The proposed IPO of the Hyderabad-based retailer includes a fresh issue of equity shares worth up to Rs 400 crore in addition to an offer for sale (OFS) of up to 1.49 crore shares by the promoter selling shareholders, as per the draft red herring prospectus (DRHP).The company, which has a footprint only in South India currently, intends to use Rs 40 crore from fresh issue proceeds to repay or prepay borrowings and Rs 260 crore to open new stores under Ratnadeep and National Mart formats. It plans to use the remaining proceeds for general corporate purposes.Ratnadeep had filed its DRHP with Sebi in July 2026 and received observations this week, a step that allows the company to proceed with the public issue.The retailer operates across Telangana, Andhra Pradesh and Karnataka with more than 30,000 SKUs as of March 31, 2026, spanning fresh produce, FMCG, staples, general merchandise and apparel.It operated 190 stores, including neighbourhood supermarkets under Ratnadeep, premium food stores under Ratnadeep Select and hypermarkets under National Mart formats as of then.The company clocked a profit after tax of nearly Rs 37 crore on revenue from operations of Rs 2,223 crore in financial year 2025-26.