Vishal Mega Mart IPO Opens on 11 December: Price Band, Key Dates, and Investment Insights
Vishal Mega Mart, a leading supermarket chain in India, is gearing up for an ₹ 8,000 crore initial public offering (IPO) that is set to open for subscription on December 11, 2024.
Vishal Mega Mart IPO Details
- The IPO is scheduled to open for subscription on December 11, 2024, and conclude on December 13, 2024.
- The company has established a price band of ₹ 74 to ₹ 78 per share for its ₹ 8,000 crore IPO.
- The IPO is structured as an Offer For Sale (OFS), meaning the company will not receive any proceeds from the sale.
- Investors can bid for a minimum of one lot, consisting of 190 shares, and in multiples thereof.
- The share allotment is anticipated to take place on December 14, 2024, or December 16, 2024, in case of any delays.
- The book build issue is planned to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with an expected listing date of December 18, 2024.
- KFin Technologies Limited serves as the official registrar for this public offering. Meanwhile, Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India have been appointed as the lead managers for the public issue.
Vishal Mega Mart Business Overview
Vishal Mega Mart is a prominent supermarket chain in India operating as of June 30, 2024, a network of 626 Vishal Mega Mart stores spread across the country. The company also maintains a digital presence through its mobile app and website, catering to a wider customer base.
Financials
In FY24, Vishal Mega Mart demonstrated strong financial performance, registering a year-on-year (YoY) revenue growth of around 17.41% and an even more significant surge in Profit After Tax (PAT) of approximately 43.78%.
This growth positions Vishal Mega Mart favourably amidst the expanding Indian aspirational retail market, which is expected to grow at a compound annual growth rate (CAGR) of 9% from 2023 to 2028, according to a Redseer report.
Vishal Mega Mart IPO Allocation
50% of the nearly 102.5 crore shares offered in the IPO are reserved for Qualified Institutional Buyers (QIBs). Another 15% of the shares are set aside for Non-Institutional Investors (NIIs). The remaining 35% of the shares in the IPO are allocated to retail individual investors.
Promoter Holdings
|
Share-Holding Pre Issue |
96.46% |
|
Share-Holding Post Issue |
76.02% |