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Vishal Mega Mart IPO: Competing with Reliance Retail, D Mart and other supermarkets, Vishal Mega Mart is going to launch its IPO, the size of its IPO is Rs 8 thousand crores. The IPO of Vishal Mega Mart will open on 11th December and the closing date is 13th December. Vishal Mega Mart has recently announced the price band of the IPO. About which we are telling here.
626 stores across the country
Vishal Mega Mart has 626 stores across the country, as well as a mobile app and website. Through which orders can be placed. According to RedSeer report, the size of the retail market in India is Rs 68 to 72 lakh crore by 2023, which can reach Rs 104 to 112 lakh crore by 2028.
price per share
Kedra Capital-backed Vishal Mega Mart on Friday said it has set a price range of Rs 74-78 per equity share for its Rs 8,000 crore initial share sale, which will go public on December 11. Will close on 13th December. Bidding for anchor investors will open for one day on December 10. This has been revealed from the red herring prospectus.
According to UDRHP, the proposed IPO is entirely an offer for sale of shares by promoter Kedaara Capital led Samayat Services LLP. Since the IPO is completely OFS, the company will not receive any funds from this issue.
These items are sold
Clothing and groceries are the best selling items in Vishal Mega Mart. Here you get everything you need. The supermarket competes with Reliance Retail, Tata Group’s Trent and grocery retail Avenue Supermart. The company had submitted its draft paper to SEBI in July itself and on September 25, SEBI approved it. Since then the company was looking for an anchor investor and now the IPO date has been announced.
