- Price Band fixed at ₹74 to ₹78 per equity share of face value of ₹10 each
- The Bid /Offer Period will open on Wednesday, December 11, 2024 and close on Friday, December 13, 2024
- The Anchor Investor Bid/Offer Period opens and closes on Tuesday, December 10, 2024
- Investors can apply for a minimum of 190 equity shares and its multiples thereafter.
NE BUSINESS BUREAU
AHMEDABAD, DEC 7
Vishal Mega Mart Limited (VMM), a leading supermarket chain in India, on Saturday announced its
initial public offer will open for subscription on Wednesday, 11th December, 2024 and close on Friday, 13th December 13, 2024.
The Anchor Investor Bid/Offer Period opens and closes on Tuesday, 10th December, 2024. Investors can apply for a minimum of 190 equity shares and its multiples thereafter.
The total offer size of equity shares aggregating up to ₹8,000 crore comprises offer for sale (OFS) of up to 1,025.64 crore equity shares by Kedaara Capital-led Samayat Services LLP. The company will not receive any proceeds from the issue.
The company has reserved 50 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will get 15 per cent of the allocation. Retail investors will have 35 per cent of reservation in the IPO.
VMM is one of India’s leading retail players, achieving ₹8,900 crore in revenues in FY24. The company has 645 stores across 414 cities in 30 states and union territories, (as of September 30, 2024), with 11.5 million retail sqft. The company targets middle and lower-middle-income people through these stores and their Vishal Mega Mart mobile app and website. VMM offers a diversified merchandise mix, with apparel contributing 45% of sales, general merchandise 28%, and FMCG 27%.
Incorporated In 2018, Vishal Mega Mart is a hypermarket chain that sells a wide range of products like apparel, groceries, electronics, and home essentials. The Gurugram-based company owns its 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.
For the period ended on September 30, 2024, the company reported a net profit of ₹254.14 crore with a revenue of ₹5,053.42 crore. The company’s net profit came in at ₹461.94 crore for the financial year 2023-24.
The Equity Shares are proposed to be listed on BSE and NSE.
The Book Running Lead Managers (BRLMs) to the Offer are Kotak Mahindra Capital Company Limited, ICICI Securities Limited, Intensive Fiscal Services Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited, and Morgan Stanley India Company Private Limited.
