Subscriptions for the Rs 8,000-crore Vishal Mega Mart IPO will open from December 11 to December 13.Supermarket giant Vishal Mega Mart's initial public offering (IPO) is scheduled to begin on December 11 and end on December 13. The current promoters would be selling their market shares as the Rs 8,000-crore IPO is just an offer for sale. The red herring prospectus (RHP) states that the anchor investor auction would begin for one day on December 10.
Important Dates for Vishal Mega Mart's IPO
Subscriptions for the IPO will be accepted from December 11 to December 13. The listing is planned for December 18, and its allocation will be finalized on December 16.
Vishal Mega Mart IPO: Lot Size & Price Range
The IPO's price range has not yet been disclosed. Along with the price, the lot size will shortly be disclosed.
GMP for Vishal Mega Mart's IPO
Market watchers report that the unlisted shares of Vishal Mega Mart are presently selling at a premium of Rs 13.5, but the precise GMP won't be known until the price is announced.
Details about Vishal Mega Mart's IPO
According to the Updated Draft Red Herring Prospectus (UDRHP), the proposed IPO is only an Offer For Sale (OFS) of shares by promoter Samayat Services LLP; no new equity shares are being issued.
At the moment, 96.55 percent of the largest superstore in Gurugram is owned by Samayat Services LLP.
The profits of the IPO will go to the selling shareholder; the company will not receive any money because it is purely an OFS.
Following Sebi's approval of Vishal Mega Mart's secret offer document on September 25, the revised draft filing was submitted in October. In July, the business submitted their offer document via the private pre-filing process.
Sebi examines and comments on confidential DRHPs as part of the confidential filing procedure.
After taking the regulator's feedback into consideration, the company going public must submit an update to the confidential DRHP (UDRHP-I). The public has 21 days to provide feedback on this UPDRHP-I.
Lastly, the business must update the DRHP-II (UDRHP-II) after taking into account the modifications brought about by public feedback.
Vishal Mega Mart serves middle-class and lower-middle-class Indian customers as a one-stop shop.
The three main product categories—clothing, general merchandise, and fast-moving consumer goods (FMCG)—are covered by both in-house and third-party brands.
It runs 626 Vishal Mega Mart locations in India as of June 30, 2024, in addition to a website and mobile app.
The Redseer analysis estimates that India's aspirational retail sector will increase at a compound annual growth rate (CAGR) of 9% from its 2023 valuation of Rs 68-72 trillion to Rs 104-112 trillion by 2028. Higher quality standards, broader product selections, improved pricing (particularly in FMCG), urbanization, and growth prospects for organized companies are the main drivers of the transition towards organized retail.
Jefferies India, Intensive Fiscal Services, ICICI Securities, and Kotak Mahindra Capital Company. The issue's book-running lead managers are Morgan Stanley India Company and JP Morgan India.
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