Vishal Mega Mart’s Rs 8,000 Crore IPO Kicks Off Today: Key Things You Want To Know

Vishal Mega Mart will not receive any funds from the issue and the proceeds will go to the selling shareholder, because the IPO is entirely an OFS.

New Delhi: Retailer and Gurugram-based supermart major Vishal Mega Mart is all set to launch its Rs 8,000 crore Initial public offering (IPO) next week. The proposed IPO is entirely an Offer For Sale (OFS) of shares by promoter Samayat Services LLP, with no fresh issue of equity shares.

Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.

The Initial Public Offering (IPO) will open on December 11 and conclude on December 13. Bidding for anchor investors will open a day ahead on December 10.

Samayat Services LLP currently holds 96.55 percent stake inVishal Mega Mart.

Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India. JP Morgan India, Morgan Stanley India Company are the book-running lead managers to the issue.

As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website.

According to the Redseer report, India's aspirational retail market was valued at Rs 68-72 trillion in 2023 and is projected to reach Rs 104-112 trillion by 2028, growing at a CAGR of 9 per cent. The shift towards organized retail is driven by higher quality expectations, wider product assortments, better pricing (especially in FMCG), urbanisation, and opportunities for organised players to grow.

With PTI Inputs