Marri Retail Files DRHP With SEBI, Plans ₹522 Crore IPO

Apparel and jewellery retailer Marri Retail has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), setting the stage for an initial public offering (IPO) aimed at raising up to ₹522 crore through a fresh issue of equity shares.

The proposed IPO combines the fresh issue of shares aggregating up to ₹522 crore with an offer for sale (OFS) of 2.7 crore equity shares by promoter Marri Venkat Reddy. The company may also execute a pre-IPO placement of up to ₹104.4 crore, which could reduce the size of the fresh issue if completed.

Marri Retail intends to deploy the IPO proceeds for multiple strategic initiatives, including repayment of outstanding borrowings, expansion of its retail footprint with 10 new apparel stores, one apparel plus jewellery store-in-store and two standalone jewellery stores, as well as lease and warehouse rental commitments and general corporate purposes.

As of late 2025, the Hyderabad-based company operates 34 stores across Telangana, Andhra Pradesh, Karnataka and Maharashtra, under brands such as The Chennai Shopping Mall, JC Mall, JC Brothers and Jeans Corner. In H1 FY26, it reported revenue of ₹1,301.4 crore with profit of ₹84.2 crore.