More Retail Raises ₹400 Crore for 2026 IPO
More Retail, a leading food and grocery retail chain co-owned by Samara Capital and Amazon, has raised ₹400 crore from its promoters to shore up its operations and finance its growth strategy. The new infusion of capital is at a time when the company is preparing for a proposed ₹2,000 crore Initial Public Offering (IPO) in 2026.
The ₹400 crore will be utilized to improve supply chain strengths, invest in technology, and increase its store network, company officials say. The company now has about 775 stores in India and wants to double this figure to over 3,000 within the next five years with an expansion into smaller towns and rural areas.
The IPO itself will involve promoters diluting as much as 10% of their shareholding. Of the total target of ₹2,000 crore, ₹250 crore will go towards clearing outstanding debt, which currently is around ₹500 crore. The remainder will be spent on future growth and operational improvements.
Financially, More Retail is trying to enhance its bottom line. It had reported a negative EBITDA of ₹60 crore in FY25 but is likely to become profitable by FY26, with a forecast positive EBITDA of ₹60 crore.
This strategic capital raise marks the intention of the company to make a strong hold in India’s booming retail market, riding its omnichannel presence as well as the support of two powerful backers. The imminent IPO will not only give liquidity but also act as a catalyst to More Retail’s growth phase two.
