Vishal Mega Mart’s Rs 8,000 Crore IPO Kicks Off In the present day: Key Issues You Need To Know | Economic system Information

New Delhi: Retailer and Gurugram-based supermart main Vishal Mega Mart is all set to launch its Rs 8,000 crore Preliminary public providing (IPO) subsequent week. The proposed IPO is completely an Supply For Sale (OFS) of shares by promoter Samayat Providers LLP, with no recent situation of fairness shares.

For the reason that IPO is completely an OFS, the corporate is not going to obtain any funds from the problem and the proceeds will go to the promoting shareholder.

The Preliminary Public Providing (IPO) will open on December 11 and conclude on December 13. Bidding for anchor buyers will open a day forward on December 10.

Samayat Providers LLP at present holds 96.55 p.c stake inVishal Mega Mart.

Kotak Mahindra Capital Firm, ICICI Securities, Intensive Fiscal Providers, Jefferies India. JP Morgan India, Morgan Stanley India Firm are the book-running lead managers to the problem.

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

Based on the Redseer report, India’s aspirational retail market was valued at Rs 68-72 trillion in 2023 and is projected to achieve Rs 104-112 trillion by 2028, rising at a CAGR of 9 per cent. The shift in direction of organized retail is pushed by increased high quality expectations, wider product assortments, higher pricing (particularly in FMCG), urbanisation, and alternatives for organised gamers to develop.

With PTI Inputs