Hyderabad-based Ratnadeep Retail Limited, an organised food, grocery and value-fashion retailer with operations across Andhra Pradesh, Telangana and Karnataka, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
According to the DRHP, the proposed IPO comprises a fresh issue of equity shares worth up to Rs 400 crore and an Offer for Sale (OFS) of up to 1,48,60,000 equity shares by the promoter selling shareholders. The promoters participating in the OFS are Sandeep Agarwal, Manish Bhartiya and Mitesh Bhartiya.
