Apparel and jewellery retailer Marri Retail files IPO papers with fresh issue size of Rs 522 crore

Marri Retail IPO News

• Marri Retail files IPO papers with SEBI on February 1
• IPO comprises of fresh issuance of shares worth Rs 522 crore, and OFS of 2.7 crore equity shares by promoter Marri Venkat Reddy
• Marri Retail may consider raising funds up to Rs 104.4 crore in pre-IPO round

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Hyderabad-based apparel and jewellery retailer Marri Retail has filed preliminary papers with the Securities and Exchange Board of India to raise funds up to Rs 522 crore via initial share sale.

The initial public offering (IPO) comprises of fresh issuance of shares worth Rs 522 crore, and an offer-for-sale of 2.7 crore equity shares by promoter Marri Venkat Reddy, as per the DRHP filed on February 1.

As a part of fresh issue component, the company may consider raising funds up to Rs 104.4 crore in pre-IPO round.

Marri Retail, which currently operates 34 stores across 26 districts in Telangana, Andhra Pradesh, Karnataka, and Maharashtra under multiple brands - The Chennai Shopping Mall, JC Mall, JC Brothers, and Jeans Corner - intends to add 10 new apparel stores, one new apparel store with jewellery SIS (store-in-store), and two new standalone jewellery stores at a cost of Rs 250.5 crore through fresh issue proceeds.

Further, the company proposed to spend Rs 35.8 crore for lease or sub lease rent payments for existing stores and warehouse, Rs 115.6 crore for repaying debt, and remainder funds for general corporate purposes.

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As of December 2025, it had total fund-based outstanding borrowings of Rs 310.7 crore.

Marri Retail said the apparel business contributed 54 percent to its topline and jewellery segment over 45 percent in six months period ended September 2025. It has reported profit of Rs 84.2 crore on revenue of Rs 1,301.4 crore in the same period.

However, profit in the last fiscal year ended March 2025 fell 14.1 percent to Rs 99 crore, down from Rs 115.2 crore in previous year. Revenue in the same period grew by 10.8 percent to Rs 2,456.3 crore, increasing from Rs 2,217.1 crore.

Nuvama Wealth Management, IIFL Capital Services, and Motilal Oswal Investment Advisors are appointed as the merchant bankers for the Marri Retail IPO.