RSB Retail India IPO

About RSB Retail India IPO

The IPO of RSB Retail India comprises only a fresh issue and an offer for sale. The fresh issue aggregates up to ₹500 crores, while the offer for sale is up to 29,878,946 equity shares. The price band is ₹[TBA] per share.
RSB Retail India IPO opens on [TBA] and closes on [TBA]. The allotment of shares will take place on [TBA]. The credit of shares to the Demat account will take place on [TBA]. The initiation of refunds will take place on [TBA]. The listing of shares will take place on [TBA].

The lot size of shares in the IPO is [TBA]. The minimum number of lots in the IPO for retail investors is [TBA]. The minimum investment amount required by a retail investor is ₹[TBA] based on the upper price. RSB Retail India is a multi-format retailer catering to diverse customer segments across various income demographics, including premium, mid-premium, and value, as well as different shopping requirements. It operates through several store formats, including multi-brand format outlets for men, women and children, exclusive ethnic format outlets for men and women and hypermarkets.

Objectives of RSB Retail India IPO

The company proposes to utilise the net proceeds received for:

• Repayment/ prepayment, in part or full, of certain loan facilities availed by the company
• Setting up of new stores under the formats of “R. S. Brothers” and “South India Shopping Mall”
• General corporate purposes

Industry Outlook

The retail market in India was valued at ₹54,27200 crores in fiscal 2019 and grew at a CAGR of approximately 9.3% to reach ₹84,662 billion by fiscal 2024. Continued robust growth is expected, with the market projected to reach ₹135,383 billion by fiscal 2029 at a projected CAGR of 9.8% from fiscal 2024 to fiscal 2029. India’s retail basket encompasses food and grocery, apparel, consumer electronics, home decor, and health and beauty products, with food and grocery holding the largest share, followed by apparel and electronics.

The growth of organised retail is driven by the expansion of both modern brick-and-mortar stores and e-commerce. E-commerce has grown from a 4.1% share in fiscal 2019 to 8.1% in fiscal 2024 and is projected to reach 11.7% by fiscal 2029. This growth is fuelled by expansion in both modern retail brick-and-mortar stores, along with increasing internet penetration, smartphone usage, and digital payment options, which have extended the reach of e-commerce even into smaller towns and rural areas.

RSB Retail India Company Information

RSB Retail India is a multi-format retailer catering to diverse customer segments across various income demographics, including premium, mid-premium, and value, as well as different shopping requirements. It operates through several store formats, including multi-brand format outlets for men, women and children, exclusive ethnic format outlets for men and women and hypermarkets.

Its apparel product portfolio includes ethnic wear, everyday casual wear, and formal wear. The company is a leading multi-format retailer in the South-Indian states of Telangana and Andhra Pradesh in terms of number of stores as of March 31, 2025.

Strengths of RSB Retail India

• Compelling customer proposition underpinned by a diversified multi-format presence across product categories
• Strategically located stores supported by in-house managed sourcing capabilities
• Leading multi-format retail player in Andhra Pradesh and Telangana
• Business model delivering financial growth
• Operations led by the promoters, supported by an experienced senior management team

Risks of RSB Retail India

• Adverse developments affecting operations in Andhra Pradesh and Telangana could have an adverse impact on business, results of operations and cash flows
• Variations in demand and change in customer preferences could have an adverse impact on business
• Any disruptions in the operation of South India Shopping Mall and R.S. Brothers format stores may adversely impact sales
• Past growth performance may not be indicative of future growth prospects
• Inability to anticipate and respond to changes in market demands, fashion trends and customer preferences in a timely and effective manner could adversely affect business
• Business and results of operations may be negatively affected if the company is unable to compete with competitors
• Failure to obtain statutory and regulatory permits and approvals may adversely affect business
• Failure to maintain and enhance brands and image may have a negative impact on business and results of operations
• Unexpected interruptions to business and operations, including on account of supply chain and operational disruptions may adversely impact business
• Decrease in the number of customers or levels of customer spending, as well as changes in customer habits, may adversely impact business

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Managers

• IPO Registrar: KFin Technologies
• Book Running Lead Managers: Motilal Oswal Investment Advisors, HDFC Bank and IIFL Capital Services

RSB Retail India Business Model

RSB Retail India operates through several store formats, including multi-brand format outlets for men, women and children, exclusive ethnic format outlets for men and women and hypermarkets. Its apparel product portfolio includes ethnic wear, everyday casual wear, and formal wear.

RSB Retail India Growth Trajectory

The revenue from operations of RSB Retail India increased from ₹2126.719 crores in FY 23 to ₹2693.944 crores in FY 25. Its EBITDA margin increased from 10.31% in FY 23 to 13.88% in FY 25, while PAT margin increased from 3.16% in FY 23 to 3.84% in FY 25. Compelling customer propositions underpinned by a diversified multi-format presence across product categories and a business model delivering financial growth have helped the company grow over the years.

RSB Retail India Market Position

RSB Retail India retails and markets its products primarily through five key brick-and-mortar store formats. As of March 31, 2025, it had 73 stores across 22 cities in three South Indian states. In fiscal 2023, all its primary-format stores were located in Andhra Pradesh and Telangana. During fiscal 2024, it expanded its geographical presence by opening one Dè Royal store in Bengaluru, Karnataka.

How to Apply for RSB Retail India IPO?

To apply for RSB Retail India IPO:

• Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.