Hyderabad-based Marri Retail has submitted its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for an initial public offering. The proposed IPO will include a fresh equity issue of up to ₹522 crore along with an offer for sale of 2.7 crore promoter shares by Marri Venkat Reddy. The face value of each share will be ₹2, signalling the company’s intent to raise capital and provide partial exit liquidity.
What’s next:
Market participants will watch for SEBI’s observation letter and the announcement of a price band and subscription dates, which will pave the way for the IPO to formally open.
