Chennai-based consumer durables and electronics retailer Sathya Agencies Ltd, which has acquired Unilet Appliances Private Ltd, said on Saturday that it plans to strengthen its presence in Karnataka.
India’s fifth-largest consumer electronics retailer by revenue from operations in FY2025, Sathya Agencies recently completed the integration of Unilet, one of the 10 largest consumer durables and electronics-focused retail players in Karnataka in terms of the number of stores as of March 15, 2026.
As of January 31, 2026, the company had expanded its footprint to 427 stores across South India, spanning Tamil Nadu, Karnataka, Kerala, Andhra Pradesh and Puducherry.
This included 54 showrooms in Karnataka acquired through Unilet.
The acquisition has provided Sathya Agencies with an entry into Karnataka’s consumer durables and electronics market through an established store network, supported by local market expertise and a complementary product mix.
The company is also gearing up for its first major Dussehra and Diwali festive season in the state, with offers for consumers across the region.
In line with disclosures in the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi), the company proposes to use the net proceeds from the fresh issue portion of its proposed Rs 600 crore initial public offering (IPO) to fund growth initiatives, repay or prepay certain borrowings, pay a portion of the purchase consideration for the acquisition of wholly owned subsidiary Unilet Appliances, and for general corporate purposes.
The company received final observations from Sebi on the proposed IPO on June 25, 2026.
The offer comprises a fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 300 crore by promoter-selling shareholders Johnson Asaria, J John Sathya and Charles Packiaraj.
Sathya Agencies has commercial relationships with electronics and appliance brands such as LG, Blue Star, Daikin, Whirlpool, Haier, Sony, Havells, Panasonic and O General.
As of January 31, it worked with more than 150 domestic and international original equipment manufacturers (OEMs) and authorised distributors.
The company offers consumer durables and electronics across multiple price points, including air conditioners, televisions, washing machines, smartphones, IT products and small kitchen appliances.
As of January 31, the company and its subsidiaries operated 427 retail stores, comprising 392 consumer electronics stores and 35 mobile retail stores, across Tamil Nadu, Andhra Pradesh, Kerala, Karnataka and Puducherry.
Its aggregate retail footprint stood at approximately 1.90 million square feet.
Anand Rathi Advisors and Motilal Oswal Investment Advisors are the book-running lead managers to the offer.
