Supermarket store operator Vishal Mega Mart’s public issue will open for subscription on December 11. Established in 2001, Vishal Mega Mart is a hypermarket chain offering various products, including apparel, groceries, electronics, and home essentials. It targets middle and lower-middle-income people through a network of 645 stores (as of September 30) and their Vishal Mega Mart mobile app and website.
Vishal Mega Mart’s IPO is an OFS of 102.56 crore equity shares. Vishal Mega Mart’s IPO size is ₹8,000 crore at the upper end of the price band. Hence, the IPO consists entirely of an OFS amounting to ₹8,000 crore by Samayat Services LLP, the promoter with a 96.46 per cent stake in Vishal Mega Mart.
At the upper price band of ₹78, the company is expected to have a market capitalization of around ₹36,120 crore. The price band has been fixed at ₹74 to ₹78 per equity share with a face value of ₹10. The lot size is 190 equity shares, multiples of 190 equity shares thereafter. The lead managers for this IPO include Kotak Mahindra Capital, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India.
Tentatively, Vishal Mega Mart IPO’s basis of allotment of shares will be finalised on Monday, December 16. The company will initiate refunds on Tuesday, December 17, and the shares will be credited to the Demat account of allottees on the same day following the refund. Vishal Mega Mart’s share price will likely be listed on BSE and NSE on Wednesday, December 18.
