Last updated : May 13, 2025 3:31 pm
The grocery retail chain backed by Samara Capital and Amazon is likely to raise around 2,000 crore by diluting 10 per cent through an initial public offering (IPO) in 12 to 18 months and reportedly aims to be a 3,000-store network by 2030.
With the aim of becoming debt free and emerging as a 3,000-store network by 2030, More Retail is likely to raise around ₹2,000 crore by diluting 10 per cent through an initial public offering (IPO) in 12 to 18 months, according to reports.
The food and grocery retail chain, which is backed by Samara Capital and Amazon, currently has 775 stores, and is set to cross 1,100 stores.
Vinod Nambiar, managing director, More Retail Private Limited, has been quoted as saying, “We want to raise enough money to have the ability to expand over the next five years. By 2030, we want to be a 3,000-store network.”
The retail company, in which Samara holds 51 per cent while Amazon has 48 per cent with the balance being with HNI and family office, says it aims to become EBITDA-positive with Rs 60 crore profit in FY'26.