Hyderabad-based Marri Retail Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).

The IPO, with a face value of ₹2, is a mix of fresh issue of shares aggregating  up to Rs 522 crore and offer-for-sale of 27,000,000 equity shares by promoter – Marri Venkat Reddy.

The proceeds from its fresh issuance worth Rs 115.6 crore will be utilised for repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the company, Rs 250.5 crore for capital expenditure to be incurred towards opening of 10 new apparel stores, one new apparel store with jewellery SIS (Integrated Retail Store) and two new standalone jewellery stores (the Jewellery Stores), Rs 35.8 crore expenditure for lease/sub lease rent payments for certain of the company’s existing stores and warehouse, and general corporate purposes.

The company, in consultation with the book-running lead managers, may consider a pre-IPO Placement for up to Rs 104.4 crore. The pre-IPO placement if completed, the fresh issue size will be reduced.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.

Marri Retail  is an apparel and jewellery retailer operating stores under multiple brands, offering a comprehensive and well-diversified product portfolio across a wide range of price points, including premium, mid-premium and value.

The company commenced apparel retail business as a proprietorship under the brand name ‘Jeans Corner’ in 1999 and entered the large-format retail segment by launching the first shopping mall under the “The Chennai Shopping Mall” brand in Hyderabad in 2013.

The company has 34 stores with an aggregate retail space of 0.98 million square feet across 26 districts in Telangana, Andhra Pradesh, Karnataka, and Maharashtra. The company operate its stores under multiple brands, including,  The Chennai Shopping Mall, JC Mall, J.C. Brothers and Jeans Corner in the apparel category, and The Chennai Shopping Mall Jewellers in the jewellery category.

The company’s differentiated business model, supported by a diversified product portfolio, strategic store expansion, technology-driven supply chain, and targeted marketing, the company believe positions it to capitalize on industry growth and strengthen its position in organized retail in the states it operates.

As of September 30, 2025, the company had 522 apparel articles (including 129 articles under our private label brands) and 259 jewellery articles, positioning it as a one-stop destination for family shopping, driving footfalls and repeat purchases.

The company’s revenue from operations was Rs 1,301.42 crore during the six-months ended September 30, 2025, and net profit was Rs 83.52 crore

Its revenue from operations was Rs 2,456.27 crore during FY25 vis-a-vis Rs 1,900.84 crore during FY23.

Mumbai based Four Bridge Capital (FBC) has assisted Marri Retail Ltd on its IPO journey and FBC Team has supported throughout the DRHP filing process.

Nuvama Wealth Management Limited, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers.

The equity shares are proposed to be listed on BSE and NSE.