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Learn about Marri Retail Limited’s Draft Red Herring Prospectus (DRHP), issue structure, business operations, financial performance and key regulatory milestones in its IPO journey.
Marri Retail Limited IPO update: Marri Retail Limited, a Hyderabad-based apparel and jewellery retailer, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering. The IPO combines a fresh issue of equity shares with an offer for sale (OFS) by the promoter and aims to support debt reduction, store expansion and lease obligations.
Marri Retail Limited filed its DRHP with SEBI on February 1, 2026, and the draft document was listed under SEBI’s “Draft Offer Documents filed with SEBI – Public Issues” on February 4, 2026.
The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.
The IPO filing of Marri Retail Limited marks the formal commencement of its mainboard listing process. As per the Draft Red Herring Prospectus submitted to Securities and Exchange Board of India, the proposed issue is a book-built offering with a face value of ₹2 per equity share. It comprises a fresh issue of equity shares aggregating up to ₹522 crore and an offer for sale of up to 2.70 crore equity shares by promoter Marri Venkat Reddy.
The equity shares are proposed to be listed on National Stock Exchange of India Limited and BSE Limited, subject to regulatory observations and exchange approvals. The allocation structure is expected to follow standard book-building norms, with up to 50% reserved for QIBs, up to 15% for NIIs, and up to 35% for retail investors. Final details such as the price band, minimum bid lot, and issue schedule will be disclosed in the Red Herring Prospectus (RHP) closer to the IPO opening date.
As per the DRHP, the proposed IPO is expected to comprise the following components:
| Particulars | Details |
|---|---|
Issue Type |
Book-built mainboard issue |
Face Value |
₹2 per equity share |
Fresh Issue |
Up to ₹522 crore |
Offer for Sale |
Up to 2.70 crore equity shares |
Selling Shareholder |
Marri Venkat Reddy |
Proposed Listing |
NSE and BSE |
Price Band |
To be announced in RHP |
Lot Size |
To be disclosed |
Allocation |
≤50% QIB, ≤15% NII, ≤35% Retail |
These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.
Marri Retail Limited is a regional multi-format retailer focused on value-fashion apparel and jewellery, primarily targeting family shopping in the mass and aspirational segments.
As of the DRHP date, the company operated 34 stores with a cumulative retail area of nearly 0.98 million sq. ft. across Telangana and Andhra Pradesh. Its portfolio includes:
Menswear, womenswear and kidswear
Saris and ethnic wear
Gold and diamond jewellery
Silver ornaments and fashion jewellery
As of September 30, 2025, Marri Retail offered 522 apparel articles, including 129 private-label products, and 259 jewellery articles. The company positions its stores as one-stop destinations for family shopping and repeat footfalls. Its strategy focuses on expanding large-format stores in high-density urban and semi-urban catchments, supported by a diversified product mix and technology-enabled supply chain.
According to the DRHP, the net proceeds from the fresh issue are proposed to be utilised towards the following key objectives:
| Fund Allocation | Amount (₹ crore) | Purpose |
|---|---|---|
Repayment/Prepayment of Borrowings |
115.6 |
Reducing outstanding debt, lowering interest costs, and improving leverage profile |
Capital Expenditure – Store Expansion |
250.5 |
Opening new apparel and jewellery stores to expand retail presence |
Lease and Sub-Lease Rentals |
35.8 |
Payment of lease and sub-lease rent for existing stores and warehouses |
General Corporate Purposes |
Balance |
Supporting brand building, technology upgrades, working capital, and strategic initiatives |
These allocations represent the proposed utilisation of proceeds from the fresh issue, while the offer for sale component enables partial stake monetisation by the promoter without generating proceeds for the company.
Marri Retail has demonstrated growth in scale and profitability in recent periods.
Key financial figures disclosed in public sources are summarised below:
| Fiscal Year / Period | Revenue from Operations (₹ Cr) | Net Profit / PAT (₹ Cr) | Notes / Highlights |
|---|---|---|---|
FY2025 (Full year) |
2,456.00 |
As per DRHP |
Indicates substantial annual scale in regional organised retail |
H1 FY2026 (Six months ended Sept 30, 2025) |
1,301 |
83 |
Strong interim performance ahead of IPO |
*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information..
The Marri Retail IPO journey is currently at the DRHP filing and SEBI review stage. Key milestones are summarised below:
| Milestone / Stage | Date (or Status) | Details |
|---|---|---|
DRHP filed with SEBI |
February 1, 2026 |
DRHP filed proposing fresh issue of ₹522 crore and OFS of 2.7 crore equity shares of face value ₹2 each |
DRHP disclosed on SEBI website |
February 4, 2026 |
Listed under “Draft Offer Documents filed with SEBI – Public Issues” |
SEBI review and observations |
Ongoing / Awaited |
DRHP under regulatory review; observations to be issued before RHP filing |
Filing of Red Herring Prospectus (RHP) |
To be announced |
RHP with final price band, lot size and issue dates to be filed after SEBI observations |
IPO Opening Date |
Not yet announced |
Bidding window to be notified through RHP and stock exchange notices |
IPO Closing Date |
To be announced |
Will be declared along with opening date |
Listing on NSE/BSE (tentative) |
To be announced |
Proposed listing upon completion of allotment and listing formalities |
Note: Investors should refer to official filings for final IPO dates to learn more about the company's IPO listing details and price, and listing timelines.
Check other upcoming ipo’s here : Upcoming IPO
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
Marri Retail Limited IPO filed with SEBI on February 1, 2026, marking the formal initiation of its mainboard IPO process. The DRHP was publicly disclosed on SEBI’s website on February 4, 2026.
The IPO comprises a fresh issue of equity shares aggregating up to ₹522 crore and an offer for sale of up to 2.70 crore equity shares of face value ₹2 each by the promoter. The final rupee size of the OFS will depend on the IPO price determined in the RHP.
Marri Retail Limited is an apparel and jewellery retailer operating 34 large-format stores across Telangana, Karnataka, Maharashtra and Andhra Pradesh. It offers value-fashion apparel and a wide range of jewellery products, positioning itself as a family-focused regional retail chain.
The fresh issue proceeds are proposed to be used for repayment or prepayment of borrowings (₹115.60 crore), capital expenditure for store expansion (₹250.50 crore), lease and sub-lease rent payments (₹35.80 crore), and general corporate purposes.
For FY2025, Marri Retail reported revenue from operations of around ₹2,456 crore. For the six months ended September 30, 2025, it reported revenue of about ₹1,301 crore and net profit of approximately ₹83 crore. Detailed financial statements are available in the DRHP.
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