Thu Dec 05 21:35:43 UTC 2024: ## Vishal Mega Mart to Launch ₹8,000 Crore IPO Next Week

**Mumbai, December 5, 2024** – Vishal Mega Mart, the supermarket chain, is set to launch its initial public offering (IPO) next week, opening on December 11th and closing on December 13th. The ₹8,000 crore IPO will be an offer for sale (OFS) only, with no fresh issuance of shares. This means all proceeds will go to the existing shareholder, Samyat Services LLP, which currently holds a 96.55% stake in the company. Anchor investors can bid on December 10th.

Vishal Mega Mart operates 626 stores across India and also sells products through its mobile app and website. Its offerings include apparel, general merchandise, and fast-moving consumer goods (FMCG), encompassing both in-house and third-party brands. Approximately half of its revenue comes from apparel sales, according to Reuters.

The company, acquired by Partners Group (Switzerland) and Kedaara Capital (India) from TPG Capital in 2018, competes with major players like Reliance Retail, Tata Group’s Trent, and Avenue Supermarts (DMart). Kotak Mahindra Capital Company, ICICI Securities, and several other firms are acting as book-running lead managers for the IPO.

Vishal Mega Mart has shown strong financial growth. India Ratings reported a 36% revenue increase to ₹75.9 billion in FY2022-23, alongside a 60% surge in net profit to ₹3.2 billion.

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