Tue Dec 10 06:09:01 UTC 2024: ## Vishal Mega Mart to Raise ₹8,000 Crore in IPO

**MUMBAI, INDIA – November 28, 2023** – Vishal Mega Mart, a leading Indian supermarket chain, will launch its initial public offering (IPO) on December 11th, aiming to raise ₹8,000 crore through an offer for sale (OFS). The IPO, priced between ₹74 and ₹78 per share, will close on December 13th. Anchor investor bidding opens on December 10th.

The entire offering is an OFS, meaning existing shareholders will receive the proceeds, not the company itself. Despite this, strong investor interest is indicated by a grey market premium (GMP) of ₹24, suggesting a potential listing premium of around 31%. This GMP has risen from ₹17 over the weekend.

Vishal Mega Mart operates 645 stores across 30 states and union territories, covering 11.5 million square feet of retail space. The company, which caters to middle- and lower-middle-income consumers, reported revenues of ₹8,900 crore in fiscal year 2024. Its product range includes apparel, general merchandise, and fast-moving consumer goods (FMCG).

Retail investors will need a minimum investment of ₹14,820 (190 shares), while small and large non-institutional investors have higher minimum investment requirements. Allotments are expected by December 16th, with shares slated to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 18th. The IPO is backed by Kedaara Capital.

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