Gurugram based Retail Chain Company Vishal Mega Mart files DRHP with SEBI for the proposed IPO; Key Details here

Vishal Mega Mart is into Consumer Retail Chain and is looking raise funds through Offer for Sale

Vishal Mega Mart. Offer for Sale of Equity shares aggregating up to Rs.8000 crores IPO

Vishal Mega Mart IPO: Vishal Mega Mart Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Promoters of Vishal Mega Mart are Samayat Services LLP and Kedaara Capital Fund II LLP and holds 98.77% stake in the company.

Key Details:

• Initial Public Offer comprising of a Offer for Sale of Equity shares aggregating upto Rs8,000 crores.
• Kotak Mahindra Capital, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, Morgan Stanley India have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Sharesby Promoter selling shareholders include Samayat Services LLP who will offload Equity Shares aggregating upto Rs8,000 crores..

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Objects of the issue:
Company will not receive any proceeds from the Offer. The objects of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchange (ii) carry out the Offer for Sale .

About Company:
Established in 2018, Visham Mega Mart is into Consumer multi brand retail outlets selling Apparels, General Merchandise and FMCG products. Company has diverse range of merchandize through portfolio of own brands and third party brands tofulfil the aspirational and daily needs of consumers. It is selling products across three major product categories, i.e., apparel, general merchandise and fast-moving consumer goods, through a pan-India network of 645 Vishal Mega Mart stores and Vishal Mega Mart mobile application and website.

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About Industry:
The total addressable market for aspirational retail in India is ₹68-72 trillion (US$ 820-870 billion) for calendar year 2023, and is expected to be ₹104-112 trillion (US$ 1,250-1,350 billion) by calendar year 2028, growing at a CAGR of 9%(Source:Redseer Report at page 135). Within the aspirational retail market, there has been a consistent shift towards organized retail primarily due to increasing baselines for quality, availability of wider assortment, better pricing especially in fast-moving consumer goods, denser urban areas, and large whitespace for organized retailers in aspirational retail

Source: SEBI, BSE, NSE, DRHP, Vishal Mega Mart, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.