Vishal Mega Mart to launch Rs 8,000 crore IPO: Check price band, other details

Vishal Mega Mart, a prominent name in India’s organised retail sector, is set to open its Rs 8,000 crore Initial Public Offering (IPO) for public subscription on December 11.
The IPO will remain open until December 13, with bidding for anchor investors starting a day earlier on December 10, according to the Red Herring Prospectus (RHP) shared on Thursday.
Details about the price bands for the Vishal Mega Mart IPO have not yet been disclosed.
The share allotment for the Vishal Mega Mart IPO is anticipated to be completed on Monday, December 16, 2024. The IPO is expected to debut on the BSE and NSE, with the tentative listing date set for Wednesday, December 18, 2024.
The IPO is entirely an Offer For Sale (OFS) by the promoter, Samayat Services LLP, which currently holds a 96.55% stake in the company. This means Vishal Mega Mart will not raise new funds through fresh equity shares. Instead, the proceeds from the IPO will go to the selling promoter.
This IPO follows the company’s earlier confidential filing with the Securities and Exchange Board of India (SEBI) in July. After SEBI’s review and comments, the updated draft red herring prospectus (UDRHP) was filed in October. The document underwent a 21-day public comment period, during which inputs were incorporated into the final prospectus.
Vishal Mega Mart is a leading retail chain catering to India’s middle and lower-middle-income groups. Known as a one-stop destination for value-conscious consumers, its product range includes: apparel, general merchandise, and fast-moving consumer goods (FMCG).
As of June 30, 2024, the company operates 626 stores across India, supported by its e-commerce platforms, including a mobile app and website. This omni-channel presence enables the company to serve a wide audience in urban and semi-urban markets.
According to a report by Redseer, India’s aspirational retail market was valued at Rs 68-72 trillion in 2023 and is expected to grow to Rs 104-112 trillion by 2028, with a compound annual growth rate (CAGR) of 9%.
The IPO has appointed several prominent book-running lead managers, including – Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, Morgan Stanley India Company.