Supermart main Vishal Mega Mart to drift ₹8,000 crore IPO on this date

Based on the up to date Draft Pink Herring Prospectus (DRHP), the IPO is an Supply For Sale (OFS) of shares by promoter Samayat Providers LLP, with no recent situation of fairness shares.

Based on a PTI report, Samayat Providers LLP holds 96.55 per cent stake in Gurugram-based Vishal Mega Mart.

Because the IPO is totally an OFS, the corporate is not going to obtain any funds from the difficulty and the proceeds will go to the promoting shareholder.

Up to date DRHP filed in October

The corporate filed its DRHP in October after its confidential supply doc was accredited by market regulator Securities Change Board of India (SEBI) on September 25. 

The corporate filed its supply doc in July via the confidential pre-filing route. Underneath the confidential submitting course of, SEBI opinions confidential DRHP and supplies feedback on it.

The corporate floating an IPO recordsdata an replace to the confidential DRHP (UDRHP-I) after incorporating the regulator’s feedback. This UPDRHP-I is made accessible for public feedback over 21 days.

After incorporating the modifications on account of public feedback, the corporate is required to replace the DRHP-II (UDRHP-II).

Vishal Mega Mart caters to center and lower-middle-income shoppers in India. The product vary contains each in-house and third-party manufacturers, protecting three key classes — attire, basic merchandise, and fast-moving client items (FMCG).

As of June 30, 2024, it operates 626 shops throughout India, together with a cell app and web site.

(With PTI inputs)