Latest news with #Ratnadeep
Mint
28-07-2025
- Business
- Mint
With one eye on IPO, Ratnadeep Retail engages DAM Capital for $100 million fundraise
Next Story Priyamvada C The company aims to tap the public markets over the next 12-24 months so this is more like a pre-IPO round, a source told Mint, adding that a deal has been in the works for over a year now. The company is exposed to heightened competition from larger national players such as Spencer's and Reliance Fresh, among others. Image: Pixabay Gift this article Mumbai: Ratnadeep Retail Pvt Ltd has engaged DAM Capital to facilitate a more than $100-million fundraise as the Hyderabad-based grocery chain looks to expand operations and eventually list on the public markets, at least four people familiar with the matter said. Mumbai: Ratnadeep Retail Pvt Ltd has engaged DAM Capital to facilitate a more than $100-million fundraise as the Hyderabad-based grocery chain looks to expand operations and eventually list on the public markets, at least four people familiar with the matter said. 'Ratnadeep plans to raise about ₹ 500-600 crore ($60-75 million) in fresh capital and the promoters will also look to monetise some of their stake in the round," said one of the people cited above. 'The company also has ambitions to tap the public markets over the next 12-24 months and this is more like a pre-IPO round that they are discussing," a second person said, adding that a deal has been in the works for over a year now. 'The capital will be used to increase store count, double down in existing areas and expand to new geographies," the third person said, adding that the company has approached several funds. If the funding materialises, it will mark the company's first external round. DAM Capital declined to comment while Ratnadeep was yet to respond to Mint's emails at the time of publishing. Established regional player Ratnadeep has established a regional presence in the organised retail segment, operating about 170 stores under the brands Ratnadeep and NationalMart in Telangana (primarily Hyderabad), Karnataka, and Andhra Pradesh. The company recently added two new store formats to its existing supermarket model – Ratnadeep Select and Ratnadeep Express. Select aims to become an experiential destination' offering a collection of products from around the world, while Express is a neighbourhood supermarket that sells daily essentials. As a premium retailer, the company caters mainly to the upper middle class with the Ratnadeep brand, while NationalMart targets value-focused customers with groceries, apparel and general merchandise. Historically, the company has funded new stores through a mix of debt and internal accruals. Cost pressures and competition However, its operating margins and profitability have been hit by higher employee costs, head office and warehouse expenses, and other fixed costs (such as rent) as newer stores have opened, according to a Crisil report published in September 2023. 'The impact of new stores being added on achieving break-even along with their geographical diversification on the operating profitability of Ratnadeep will remain a key monitorable," the credit rating agency said. The company is also exposed to heightened competition from larger national players such as Spencer's and Reliance Fresh, among others. Many of these major companies have set up stores with catchment areas overlapping those of their competitors, resulting in modest operating profit margins. The retail segment also faces a significant threat from quick commerce and inflationary expenses, which have led to softer sales, higher costs and narrower margins. The company was founded in 1987 as a proprietorship firm by Sandeep Agarwal, Manish Bhartiya and Mitesh Bhartiya. In 2001 it was reconstituted as a private limited company with the current name. In FY23 it brought in ₹ 1,385.6 crore of revenue and ₹ 15.2 crore in profit, up from ₹ 1,192.3 crore of revenue and ₹ 12.9 crore of profit in FY22, according to data from market intelligence provider Tracxn. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
India.com
10-05-2025
- Entertainment
- India.com
Hema Malini's mother was against her marriage with Dharmendra, wanted THIS actor to be her son-in-law, his name was…, Not Rajesh Khanna, Jeetendra, Sanjeev Kumar, Amitabh Bachchan
Hema Malini's mother was against her marriage with Dharmendra, wanted THIS actor to be her son-in-law, his name was..., Not Rajesh Khanna, Jeetendra, Sanjeev Kumar, Amitabh Bachchan Hema Malini, widely known as Bollywood's 'Dream Girl', captivated fans with her admirable beauty and impeccable acting skills. Married to her Sholay co-star Dharmendra, the couple have two children- Esha Deol and Ahana Deol. Did you know Hema Malini's mother wasn't in favour of her decision to marry Dharmendra, as he was already married at the time? Instead, he had another actor in her mind, who she was impressed with and wanted him to be her son-in-law. Jaya Chakravarthy, Hema Malini's mother, was a producer and a costume designer for popular films like Dream Girl (1977), Swami (1977), and Dillagi (1978) . Jaya desired to be a dancer, but couldn't pursue her dreams, so she made sure to experience vicariously through her daughter and made her a superstar. According to reports, before Dharmendra, Hema Malini was reportedly in love with Sanjeev Kumar and even planned to marry him and settle down. However, their relationship ended due to contrasting opinions, with Kumar's family asking her to give up acting. Later, Hema fell in love with Dharmendra, but her family was against their relationship due to his first marriage with Prakash Kaur. His parents opposed the idea of marrying a man who was already married and had children. In the 250th issue of Mayapuri, it was stated that Hema Malini's mother wanted Girish Karnad as her son-in-law. Girish worked as an actor, film director, Kannada writer, and playwright at the time. Hema's mother admired his behaviour and professionalism. Moreover, to bring them closer, she even produced the film Ratnadeep, hoping they would fell in love and get married. However, that didn't happen, and eventually Hema Malini married Dharmendra, despite all the obstacles and family rejections.
