More Retail Sets Sights on Rs 2,000 Crore IPO

Kolkata-based grocery and food retail chain, More, is gearing up for a significant financial move with plans to raise Rs 2,000 crore through its initial public offering (IPO), slated for between April and December 2026.

Promoters' Stake to Be Diluted by 10%

Following the IPO, the promoters' stake in More is expected to dilute by approximately 10%, as revealed by More CEO Vinod Nambiar. The retail giant is currently backed by Samara Capital and Amazon, alongside several high-net-worth individuals (HNIs) and family offices. Samara Capital holds a 51% stake in More Retail's holding company, with Amazon closely behind at 48%.

A Strategic Acquisition

Samara Capital's acquisition of More from the Aditya Birla Group a few years ago for Rs 4,300 crore marked a pivotal moment for the retail chain. In a move to bolster More's financial health, both Samara and Amazon injected Rs 900 crore to cover losses.