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Ratnadeep Retail has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth ₹400 crore, marking a significant step in its growth strategy as it looks to strengthen its supermarket presence across South India.
The proposed IPO comprises a combination of a fresh issue of equity shares and an offer for sale (OFS) by existing promoters. Of the total proceeds from the fresh issue, the company plans to utilise ₹260 crore to expand its supermarket network, while ₹40 crore has been earmarked for debt repayment with the remaining funds to be used for general corporate purposes.
As of March 2026, Ratnadeep Retail operated 190 stores across Telangana, Andhra Pradesh and Karnataka under its Ratnadeep and National Mart formats. The retailer has steadily expanded its footprint by catering to the daily grocery and household needs of consumers across urban and emerging markets in the region.
The company delivered a strong financial performance in FY26, reporting revenue of ₹2,223 crore while returning to profitability with a net profit of ₹36.7 crore. The improved financial performance is expected to support its next phase of expansion as it seeks to deepen its presence in existing markets and tap new growth opportunities across South India.
The proposed public issue reflects the company's confidence in the region's organised retail potential and its long-term strategy to strengthen its supermarket network amid rising consumer demand for modern retail formats.
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