TT&A is advising Nuvama Wealth Management Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Motilal Oswal Investment Advisors Limited, who are acting as the book running lead managers on the initial public offering (“IPO”) of Marri Retail Limited (Company) which includes a fresh issue of its equity shares aggregating up to ₹ 5,220.00 million and an offer for sale of up to 27,000,000 equity shares by one of the promoters of the Company. 

The Company is an apparel and jewellery retailer and has stores across the states of Telangana, Andhra Pradesh, Karnataka, and Maharashtra. Further, the proceeds from the IPO are proposed to be used for repayment/ prepayment the outstanding borrowings of the Company, capital expenditure to be incurred for opening of new stores and for expenditure for certain lease/sub lease rent payments.

TT&A Team: Abhinav Kumar – Partner; Shubham Sancheti – Managing Associate; Ayana Banerjee – Senior Associate;  Dhruvi Shah, Keshav Yadav, Akanksha Pillai and Jahnavi Seethamraju – Associate