Thu Dec 05 21:59:02 UTC 2024: ## Vishal Mega Mart IPO to Launch on December 11th, Aiming for ₹8,000 Crore

**NEW DELHI** – Vishal Mega Mart, a prominent supermarket chain in India, will launch its Initial Public Offering (IPO) on December 11th, the company announced. The three-day offering will close on December 13th, with the anchor investor bidding process concluding on December 10th.

The IPO, entirely an Offer For Sale (OFS), will see promoter Samayat Services LLP offloading its stake. No new shares will be issued, meaning the company itself will not receive any funds. The approximately ₹8,000 crore raised will go directly to the selling promoter. Samayat Services LLP currently holds 96.55% of the company.

The price band for the IPO will be announced shortly. Vishal Mega Mart caters to the lower and middle-income segments, offering clothing, general merchandise, and Fast-Moving Consumer Goods (FMCG) from both in-house and third-party brands. As of June 30th, 2024, the company operates 626 stores across India, along with a mobile app and website.

Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India are the book-running lead managers for the issue.

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