Hyderabad, July 10 -- Marri Retail Limited on Friday said it has received Sebi observations for its Initial Public Offering (IPO).
The Hyderabad-based company has filed its draft red herring prospectus with Sebi on February 2, 2026.
The IPO, with a face value of Rs 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...