Amazon-Backed More Retail Plans To Raise INR 2,000 Cr Via IPO: Report

More Retail, the omnichannel grocery retail chain backed by prominent investors Amazon and Samara Capital, has officially initiated its plans for a ₹2,000 crore initial public offering (IPO). The primary objectives of this public offering are to secure funds for ambitious expansion initiatives aimed at further penetrating the Indian retail market and to strategically reduce the company's existing debt burden. More Retail seeks to capitalize on the robust growth trajectory of India's organized retail sector, with leading investment banks Morgan Stanley and Kotak Mahindra Capital entrusted with the crucial task of managing this significant public offering.