Ratnadeep Retail Ltd has submitted draft red herring prospectus (DRHP) documents to the Securities and Exchange Board of India (SEBI) for an initial public offering.
The company intends to raise ₹400 crore through a fresh issue of equity shares, marking its entry into the public markets.
The proceeds from the offering are earmarked for two primary purposes: funding the expansion of its retail network and repaying existing debt.
This capital raise aims to strengthen the company's balance sheet while providing the liquidity needed to accelerate store openings in its core operating regions.
The filing adds to a growing pipeline of Indian companies seeking public listings.
Recent weeks have seen similar moves from other mid-cap firms, including Renfra Energy India, which filed for a ₹430 crore IPO, and TMC Transformers (India) Ltd, which sought ₹550 crore.