Fri Dec 06 13:53:10 UTC 2024: ## Vishal Mega Mart’s ₹8000 Crore IPO to Launch in December
**Gurugram, October 26, 2024** – Vishal Mega Mart, a large supermarket chain, will launch its Initial Public Offering (IPO) on December 11, 2024, closing on December 13, 2024. Anchor investors can participate on December 10th. The IPO aims to raise ₹8000 crore, entirely through an Offer For Sale (OFS). This means that existing promoters, Samayat Services LLP (holding a 96.55% stake), will be selling their shares; the company itself will not receive any of the proceeds.
The Securities and Exchange Board of India (SEBI) approved the IPO on September 25, 2024, after the company filed its application in July. Vishal Mega Mart, known for catering to the middle and lower-middle-class segments, currently operates 626 stores across India, supplemented by a mobile app and website.
According to RedSeer, India’s retail market was valued at ₹68.72 lakh crore in 2023 and is projected to reach ₹104-112 lakh crore by 2028, exhibiting a 9% annual growth rate. Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India are the book-running lead managers for the IPO.
First Piper 