The Vishal Mega Mart IPO price band has been fixed at Rs 74-78 per equity share of the face value of Rs 10
Retailer and Gurugram-based supermart major Vishal Mega Mart is set to enter the capital market with its Rs 8,000 crore initial public offering (IPO) tomorrow, December 11. The proposed public issue is entirely an offer for sale (OFS) of shares by promoter Samayat Services LLP, with no fresh issue of equity shares. Currently, the promoter holds a 96.55 per cent stake in Vishal Mega Mart. The company will not receive any proceeds from the issue.
Vishal Mega Mart IPO GMP was at Rs 18 at 3:01 PM on December 10, 2024. With the price band of Rs 78, the company is expected to list at Rs 96. The expected gain per share is Rs 23.08, according to Investorgain[dot]com.
The Vishal Mega Mart IPO price band has been fixed at Rs 74-78 per equity share of the face value of Rs 10.
The IPO will open for subscription on December 11 and conclude on December 13. Bidding for anchor investors will open a day ahead on December 10. Vishal Mega Mart IPO allotment of shares is likely to be finalised on Monday, December 16. The company will initiate refunds on December 17 and the shares will be credited to the demat account of allottees on the same following refund. Vishal Mega Mart is expected to be listed on BSE and NSE on December 18.
The book-running lead managers to the issue are Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India and Morgan Stanley India Company are the book-running lead managers to the issue.
The company has reserved not more than 50 per cent of the shares in the issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional investors (NIIs) and not less than 35 per cent of the offer is booked for retail investors.
For H1 FY25 (six months ended September 2024), Vishal Mega Mart reported a total income of Rs 5,053.41 crore, a 19.3 per cent surge from Rs 4,235.44 crore reported in the corresponding period last year. Net profit also grew 30 per cent to Rs 254.14 crore from Rs 195.36 crore.
Established in 2018, Vishal Mega Mart is a hypermarket chain offering a wide range of products, including apparel, groceries, electronics and home essentials. The company offers both its own brands and third-party brands to meet the everyday needs of consumers. It operates an asset-light business model, leasing all its distribution centers and stores, while its products are manufactured by third-party vendors.
According to the red herring prospectus (RHP), the company’s listed competitors are Avenue Supermarts and Trent Ltd.