Fri Dec 06 03:30:00 UTC 2024: ## Vishal Mega Mart’s ₹8,000 Crore IPO to Open December 11

**MUMBAI, INDIA (December 5, 2024)** – Vishal Mega Mart, a prominent supermarket chain targeting middle and lower-middle-income consumers in India, is set to launch its initial public offering (IPO) on December 11th, concluding on December 13th. The ₹8,000 crore offering will be entirely an offer for sale (OFS) by promoter Samayat Services LLP, with no fresh issuance of shares. Samayat Services LLP currently holds a 96.55% stake in the Gurugram-based company.

The IPO’s price band is yet to be announced, with anchor investor bidding scheduled for December 10th. Proceeds from the sale will go directly to the selling shareholder. Several leading investment banks, including Kotak Mahindra Capital, Morgan Stanley India, and ICICI Securities, are acting as book-running lead managers for the IPO. KFin Technologies will serve as the registrar.

Vishal Mega Mart operates a network of 645 stores across India, offering a wide range of general merchandise, apparel, and fast-moving consumer goods (FMCG) through both its own brands and third-party brands. The company also has a mobile application and website.

The IPO comes amidst a booming Indian retail market. According to a Redseer report, the aspirational retail market was valued at ₹68-72 trillion in 2023 and is projected to reach ₹104-112 trillion by 2028, representing a significant growth opportunity.

Read More