Fri Dec 06 06:20:00 UTC 2024: ## Vishal Mega Mart to Launch ₹8,000 Crore IPO Next Week
**NEW DELHI** – Vishal Mega Mart, a major supermart chain in India, will launch its initial public offering (IPO) next week, opening on December 11th and closing on December 13th. The ₹8,000 crore IPO is entirely an offer for sale (OFS), meaning existing promoters, Samayat Services LLP, will be selling their shares. Anchor investor bidding will begin a day earlier, on December 10th.
The price band for the IPO has been set at ₹74-₹78 per share, with a minimum lot size of 190 shares (₹14,820). Interestingly, unlisted shares are currently trading at a 16.67% premium (₹91) over the upper price band, indicating strong market interest. Allotment is scheduled for December 16th, with listing expected on December 18th.
Vishal Mega Mart operates 626 stores across India, offering apparel, general merchandise, and FMCG products to middle and lower-middle-income consumers. The company boasts a strong online presence through its mobile app and website. The company will not receive any funds from this OFS; proceeds will go directly to the selling shareholder, Samayat Services LLP, which currently holds a 96.55% stake.
The IPO comes amidst a booming Indian retail market, projected to grow significantly in the coming years. Several leading investment banks, including Kotak Mahindra Capital Company, ICICI Securities, and JP Morgan India, are acting as book-running lead managers for the IPO.
First Piper 