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Sathya Agencies files preliminary draft papers with Sebi for ₹600 crore IPO

The proposed IPO comprises a fresh issue of equity shares aggregating to ₹300 crore and an offer for sale of equity shares worth ₹300 crore by promoters, taking the total offer size to ₹600 crore

Sebi, IPO proceeds, QIP proceeds, monitoring agency, primary market, capital markets regulation

The OFS includes the sale of shares by promoters -- Johnson Asaria, J John Sathya and Charles Packiaraj

2 min read Last Updated : Mar 31 2026 | 9:47 AM IST

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Consumer electronics retailer Sathya Agencies Ltd has filed preliminary papers with markets regulator Sebi to raise ₹600 crore through an initial public offering (IPO).

The proposed IPO comprises a fresh issue of equity shares aggregating to ₹300 crore and an offer for sale (OFS) of equity shares worth ₹300 crore by promoters, taking the total offer size to ₹600 crore, according to the draft red herring prospectus (DRHP) filed on Monday.

The OFS includes the sale of shares by promoters -- Johnson Asaria, J John Sathya and Charles Packiaraj. Each of them will offload equity shares valued at ₹100 crore.

The Tamil Nadu-based company proposes to utilise the proceeds from the fresh issue towards repayment or prepayment of certain borrowings, payment of partial purchase consideration for the acquisition of its subsidiary Unilet Appliances Private Limited, and for general corporate purposes.

Also, the company expects that listing of its equity shares will enhance its visibility and brand image and provide a public market for its shares.

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The consumer electronics retailer may undertake a pre-IPO placement of securities aggregating up to ₹60 crore. If completed, the proceeds from such placement will be deducted from the size of the fresh issue.

Sathya Agencies Ltd, incorporated in 2005, is engaged in the retail of consumer durables and electronics. It operates consumer durables and electronics retail stores across Andhra Pradesh, Kerala, Tamil Nadu, Puducherry and Karnataka.

Anand Rathi Advisors and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)