Amazon-backed More Retail Plans IPO in 2026
In a move that is expected to revolutionize the Indian retail landscape, Amazon-backed More Retail is planning to go public in 2026. The company, which currently has 775 stores across the country, is eyeing an initial public offering (IPO) to raise funds for its aggressive expansion plans. According to a recent report by Reuters, More Retail plans to double its store count by partnering with Amazon Fresh and adding more than 500 stores across 160 cities over the next 18 months.
More Retail’s hybrid model, which combines the convenience of online shopping with the experience of physical stores, has been gaining popularity among Indian customers in recent years. The company’s strategy is to leverage Amazon’s e-commerce expertise while maintaining its brick-and-mortar presence. This approach has allowed More Retail to capitalize on the growing demand for daily groceries, both online and offline.
The Indian retail market has been witnessing a significant shift in consumer behavior, with customers increasingly opting for supermarkets and e-commerce platforms for their daily grocery needs. According to a report by Euromonitor International, the Indian retail market is expected to reach $1.3 trillion by 2025, driven largely by the growth of the e-commerce sector.
More Retail’s IPO plans come at a time when the Indian retail sector is experiencing a surge in investment activity. In recent years, several Indian retail companies, including Reliance Retail and Avenue Supermarts, have gone public to raise funds for their expansion plans. More Retail’s IPO is expected to attract significant attention from investors, given its strong financial performance and growth prospects.
According to the company’s financial statements, More Retail has been consistently reporting strong revenue growth over the past few years. In the fiscal year 2021-22, the company’s revenue grew by 22% to reach Rs 12,400 crore. The company’s net profit also increased by 25% to reach Rs 250 crore during the same period.
More Retail’s plans to expand its store count and partner with Amazon Fresh are expected to drive further growth and increase its market share in the Indian retail sector. The company’s hybrid model is well-positioned to benefit from the growing demand for online grocery shopping, which is expected to continue to grow at a rapid pace in the coming years.
In addition to its IPO plans, More Retail is also exploring other opportunities to expand its business. The company has been investing heavily in its digital capabilities, including the development of its e-commerce platform and mobile app. More Retail has also been expanding its private label offerings, which are expected to play a key role in the company’s growth strategy going forward.
In conclusion, More Retail’s plans to go public in 2026 and expand its store count through a hybrid model are expected to have a significant impact on the Indian retail sector. The company’s strong financial performance and growth prospects make it an attractive investment opportunity for investors. As the Indian retail market continues to evolve, More Retail is well-positioned to capitalize on the growing demand for online and offline grocery shopping.
