Vishal Mega Mart is all set to launch its ₹8,000 crore IPO today for public at a price band of ₹74-78. The IPO will close on December 13 and the market lot is 190 shares.
The proposed IPO is entirely an Offer For Sale (OFS) of shares by promoter Samayat Services LLP, with no fresh issue of equity shares. Currently, Samayat Services LLP holds 96.55 per cent stake in the Gurugram-based supermart major. As the IPO is an OFS, the company will not receive any fund from IPO proceeds.
The Kedaara Capital-backed company has reserved 50 per cent of the net offer to QIB, 35 per cent to retail investors and the balance 15 per cent to non-institutional investors (NII).
Vishal Mega Mart is a one-stop destination catering to middle and lower-middle-income consumers in India. The product range includes both in-house and third-party brands, covering three key categories — apparel, general merchandise, and fast-moving consumer goods (FMCG).
The Gurugram-based Vishal Mega Mart on Tuesday raised ₹2,400 crore from anchor investors, as part of IPO process be finalising allocation of 30.76 crore shares to anchor investors at ₹78 per share. Among the marquee investors included global funds such as Government of Singapore, Monetary Authority of Singapore, JP Morgan, Custody Bank of Japan, Nomura, Blackrock, Government Pension Fund Global, Schroder International Selection Fund, HSBC Global, TIMF Holdings, CLSA Global, and Prudential Hong Kong and domestic institutions Domestic institutional investors like SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra AMC, Nippon Life India, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Franklin, Mirae Asset, HDFC Life Insurance, SBI Life Insurance, Canara Robeco MF, Invesco, Tata MF, Max Life Insurance, Bajaj Holdings, UTI MF, Bajaj Allianz General Insurance, Baroda BNP Paribas MF and Kotak Mahindra Life Insurance.
Of the total 30.76 crore shares allotted to the anchor investors, 16.41 crore shares were allocated to 18 domestic mutual funds, which applied through a total of 44 schemes.
As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website. In the six months to September 30, 2024, the company reported net profit of ₹254 crore on revenue of ₹5032.5 crore.
Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India. JP Morgan India, Morgan Stanley India Company are the book-running lead managers to the issue.
