The Business Bytes
Bhubaneswar, December 9, 2024 (TBB Bureau): Vishal Mega Mart Limited (VMM), a leader in India’s retail sector, is set to make waves in the financial markets with its highly anticipated Initial Public Offering (IPO) worth ₹8,000 crore. The bidding for this landmark offering will open on Wednesday, December 11, 2024, and close on Friday, December 13, 2024.
The offering comprises an offer for sale by Kedaara Capital-led Samayat Services LLP and includes equity shares with a face value of ₹10 each. With a robust presence in 30 states and union territories, VMM operates 645 stores across 414 cities, totaling 11.5 million square feet of retail space. The company achieved an impressive ₹8,900 crore in revenues for FY24, highlighting its dominance and growth trajectory in the Indian retail industry.
Vishal Mega Mart boasts a track record of profitable and capital-efficient growth, underpinned by double-digit same-store sales growth across categories. It has established itself as a leader in offering competitively priced products across various categories and continues to expand its diverse portfolio of private-label brands. The company operates a capital-efficient, omni-channel platform that integrates its physical stores with digital channels to cater to evolving consumer needs.
The IPO’s Anchor Investor Bid/Offer Period will open and close on December 10, 2024. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The allocation structure includes 50% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Bidders, and 35% for Retail Individual Bidders.
The Book Running Lead Managers (BRLMs) for the offer include prestigious names such as Kotak Mahindra Capital, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India. This IPO is poised to attract significant attention, offering investors a chance to be part of one of India’s most trusted and fastest-growing retail chains. With a proven track record and ambitious future plans, Vishal Mega Mart’s debut in the capital markets promises to be a landmark event.
