Fri Dec 06 11:42:43 UTC 2024: ## Vishal Mega Mart’s ₹8,000 Crore IPO to Open Next Week

**Mumbai, December 6, 2024** – Vishal Mega Mart, a prominent hypermarket chain in India, is set to launch its initial public offering (IPO) next week, on December 11th. The IPO, valued at ₹8,000 crore, will offer shares at a price band of ₹74-78 per share, with a lot size of 190 shares. Anchor investors can bid on December 10th, and the issue will close on December 13th.

Unlike many IPOs, this offering is purely an Offer For Sale (OFS) of 102.56 crore shares; no new shares will be issued. This means proceeds will go directly to existing shareholders, primarily Samyat Services LLP (96.55% stake) and Kedara Capital Fund II LLP. The allotment will be finalized on December 16th, with shares listing on the BSE and NSE on December 18th.

Vishal Mega Mart operates 626 stores nationwide and also sells products through its mobile app and website. Its product range includes apparel, general merchandise, and fast-moving consumer goods (FMCG), encompassing both in-house and third-party brands. The IPO allocation is reserved at 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors, and 35% for retail investors. The company competes with major players like Reliance Retail, Tata group’s Trent, and Avenue Supermarts (DMart).

The company reported strong financial results for FY23-24, with revenue rising 17.41% year-on-year to ₹8,945.13 crore and net profit increasing by 43.78% to ₹461.94 crore. Approximately half of its revenue is reportedly derived from apparel sales.

Unofficial reports from the grey market suggest a potential listing price premium of 17.31%, indicating a possible listing price of ₹91.5 per share. Investors are advised to treat grey market indicators with caution.

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