Andhra Pradesh-based supermarket retailer Ratnadeep Retail has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its IPO. The company operates across Andhra Pradesh, Telangana and Karnataka.
The proposed public issue comprises a fresh issue of equity shares worth up to Rs 400 crore, along with an offer for sale (OFS) of up to 1,48,60,000 equity shares by the promoter selling shareholders. The company’s promoters are Sandeep Agarwal, Manish Bhartiya, Mitesh Bhartiya, Yash Agarwal and Kavita Agarwal.
According to the DRHP, the company plans to allocate Rs 40 crore from the net proceeds of the fresh issue towards the repayment or prepayment of borrowings. Another Rs 260 crore will be used to expand its retail network by opening new stores, while the remaining funds will be earmarked for general corporate purposes.
For the financial year ended FY26, Ratnadeep Retail reported revenue from operations of Rs 2,223 crore and a profit after tax of Rs 36.7 crore.
As of March 31, 2026, the retailer operates 190 stores under its Ratnadeep and National Mart formats. The National Mart portfolio also includes Style Mart, which focuses on affordable fashion products.
