RSB Retail India files draft IPO papers with SEBI; seeks to raise ₹1,500 crore

Mr. Jindal
3 Min Read

The Hyderabad-based company plans to utilise the net proceeds to the tune of ₹275 crore for payment of debt, ₹118 crore for setting up of new stores under the R. S. Brothers and South India Shopping Mall formats; and rest for general corporate purposes.

The Hyderabad-based company plans to utilise the net proceeds to the tune of ₹275 crore for payment of debt, ₹118 crore for setting up of new stores under the R. S. Brothers and South India Shopping Mall formats; and rest for general corporate purposes.
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RSB Retail India Ltd, a multi-brand retail chain in south India, has filed preliminary papers with markets regulator Sebi for an initial public offering (IPO), and people familiar with the matter indicated the issue could raise around ₹1,500 crore.

The proposed IPO is a combination of a fresh issue of equity shares aggregating up to ₹500 crore and an offer for sale (OFS) of up to 2.98 crore equity shares by promoters, according to the draft red herring prospectus (DRHP) filed on Thursday.

The Hyderabad-based company plans to utilise the net proceeds to the tune of ₹275 crore for payment of debt, ₹118 crore for setting up of new stores under the R. S. Brothers and South India Shopping Mall formats; and rest for general corporate purposes.

Incorporated in 2008, RSB Retail is a leading multi-format apparel retailer catering to premium, mid-premium, and value customer segments offering ethnic wear, everyday casual wear and formal wear.

As of March 31, 2025, RSB Retail had 73 stores across 22 cities in three south Indian states — Telangana, Andhra Pradesh and Karnataka. It operates through five key brick-and-mortar store formats — South India Shopping Mall, R.S. Brothers, Kanchipuram Narayani Silks, DèRoyal and Value Zone Hyper Mart.

In fiscal 2025, RSB Retail India registered a revenue from operations of ₹2,694 crore and profit after tax of ₹104.4 crore.

According to Technopak report, the Indian retail industry is poised for strong growth, with the total market expected to reach ₹92.6 lakh crore in fiscal 2025. Within this, apparel and accessories constitute a major segment, projected at ₹6.90 lakh crore, supported by rising demand for value and affordability as well as the expansion of omni-channel retail models.

Technopak estimates that the apparel market in south India accounted for 28% of the national apparel market, valued at ₹1.72 lakh crore in fiscal 2024. This market is expected to grow at a compound annual growth rate of 12 per cent to touch ₹3.05 lakh crore by fiscal 2029.

Motilal Oswal Investment Advisors, HDFC Bank and IIFL Capital Services have been appointed by RSB Retail India to manage its public issue.

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