Vishal Mega Mart initial public offer (IPO) will open for public subscription next week on December 11. The bidding for anchor investors will open for a day on December 10, the Red Herring Prospectus (RHP) showed on Thursday.
The Rs 8,000-crore issue will conclude on December 13. The maiden share sale is entirely an Offer For Sale (OFS) of shares by promoter Samayat Services LLP, with no fresh issue of equity shares.
At present, Samayat Services LLP holds 96.55 per cent stake in the Gurugram-based supermart major.
Vishal Mega Mart files draft IPO papers to raise Rs 8,000 crore; no fresh equity issue
Vishal Mega Mart, which offers products in apparel, general merchandise and fast-moving consumer goods categories through its 626 stores and Vishal Mega Mart mobile application and website, competes with Mukesh Ambani's Reliance Retail, Tata Group's Trent and grocery retailer Avenue Supermarts.
It is among the two leading offline-first diversified retailers in India in terms of same-store sales growth.
The updated draft filing was filed in October after Vishal Mega Mart's confidential offer document was approved by Sebi on September 25. The company filed its offer document in July through the confidential pre-filing route.
The financial performance of the retailer remained strong in the past years, with consolidated net profit for the year ended March 2024 growing sharply by 43.8 percent to Rs 461.9 crore with revenue increasing by 17.5 percent to Rs 8,911.9 crore compared to previous year.
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