Ratnadeep Retail has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering.
The company, which operates food, grocery, and value-fashion stores, aims to raise ₹400 crore through the listing.
The proceeds are earmarked for expanding its retail footprint across Andhra Pradesh, Telangana, and Karnataka, as well as for general corporate purposes.
The filing marks a significant step for the regional player, which has built a presence in South India’s competitive retail sector.
By turning to public markets, Ratnadeep Retail seeks to accelerate its growth strategy in states where organized retail penetration is still evolving.
The move comes as investors look for exposure to India’s consumer story, particularly in segments that benefit from rising disposable incomes in tier-2 and tier-3 cities.