Fri Dec 06 02:10:28 UTC 2024: ## Vishal Mega Mart to Launch ₹8,000 Crore IPO

**Gurugram, India – November [Date of Publication]** – Vishal Mega Mart, a major Indian supermart chain, is set to launch its ₹8,000 crore initial public offering (IPO) on December 11th. The offering, which closes on December 13th, will be an Offer For Sale (OFS) of shares held by promoter Samayat Services LLP, meaning the company itself will not receive any funds from the sale. Anchor investor bidding will open on December 10th.

Samayat Services LLP currently holds a 96.55% stake in the Gurugram-based retailer. Vishal Mega Mart, which targets middle and lower-middle-income consumers, operates 626 stores across India and also boasts a mobile app and website. Its product range includes apparel, general merchandise, and fast-moving consumer goods (FMCG) from both in-house and third-party brands.

The company filed its draft red herring prospectus (DRHP) with SEBI in October, following approval of its confidential offer document in September. The IPO follows a standard process, including a period for public comment on the updated DRHP. All proceeds from the IPO will go to the selling shareholder, Samayat Services LLP.

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