Ratnadeep Retail Limited has initiated plans to raise up to ₹400 crore through a public offering. This financial move involves a fresh issue complemented by an Offer for Sale of up to 14,860,000 equity shares, each valued at ₹1. The company’s draft red herring prospectus (DRHP) outlines these details.
In this significant transaction, Cyril Amarchand Mangaldas is providing legal counsel to Ratnadeep Retail regarding the Initial Public Offering (IPO). Concurrently, Economic Laws Practice (ELP) is advising the book-running lead managers, which include Motilal Oswal Investment Advisors Limited, Axis Capital Limited, and DAM Capital Advisors Limited.
The legal team advising the lead managers is spearheaded by Geeta Dhania, Partner at ELP. She is supported by Senior Associate Shreeya Srungarapu and Associates Arpita Pattnaik, Shreya Prakash, and Shefali Jain.
Ratnadeep Retail has established itself as a prominent player in the organized retail sector, particularly in the states of Andhra Pradesh, Telangana, and Karnataka. With nearly 30 years of experience, the company operates through a dual-format network, featuring ‘Ratnadeep-Mindful Living’, ‘Ratnadeep Select’, and ‘National Mart’.
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