The reports state that the initial public offering (IPO) is likely to hit the market in the calendar year 2026
Aimed at expanding its store count to 3,000 by 2030 and making the company nearly debt-free, More Retail, a supermarket chain backed by Amazon and Samara Capital, is eyeing to raise around Rs 2,000 crore through an initial public offering (IPO), as per the media reports.
The IPO is likely to hit the market in the calendar year 2026, and the proposed fund-raise plan is expected to be through fresh capital infusion, with no substantial offer-for-sale components, the reports added. Promoters Amazon and Samara Capital, who hold 48 per cent and 51 per cent stake, respectively, are not expected to offload their stakes, according to the media reports.
The reports cited sourcing saying the current promoter dilution is likely to be around 10 per cent. As the move is an attempt to make the company debt-free, the current debt stands at around Rs 500 crore. The reports added that this involves loans and non-convertible debentures (NCDs).
In line with its aggressive expansion strategy, the supermarket chain is likely to cross 1,100 stores soon and eyes to become earnings before interest, tax, depreciation and amortisation (EBITDA)-positive with Rs 60 crore profit in the current financial year, as highlighted by the reports. Earlier, the company registered a Rs 65 crore EBITDA loss in the FY24.
