Vishal Mega Mart IPO: Files DRHP to SEBI for Upcoming IPO

Vishal Mega Mart Private Limited has filed DRHP with SEBI for its upcoming IPO. This upcoming IPO is offering the equity shares entirely an offer for sale by the promoters worth up to Rs 8,000 crore.

The total aggregate size of a public issue in rupees will be Rs 8,000 crores, whereas the total no. of equity shares that will be issued by the company is not yet disclosed.

This IPO will follow the book-building process, with not more than 50% of the offer reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for retail investors is reserved.

Vishal Mega Mart IPO's open date and close date have not yet been declared. The price band & lot size will be revealed soon by the company. The Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the BSE and NSE exchanges.

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About Vishal Mega Mart Limited

Vishal Mega Mart Limited came into existence in the year 2008 and is the most powerful in the retail market in India. It has more than 590 stores across the country. The headquarters of Vishal Mega Mart is situated in Gurgaon, Haryana. This company deals with numerous commodities like grocery products, FMCG's, fashion apparel, and electronics. The key attention of this store is to become cheaper with quality, and Vishal Mega Mart targets to serve not only Tier-1 and Tier-2 cities but Tier-3 as well. The company also adopted e-commerce and offered a huge online catalogue of fashion items to men, women, and children. Vishal Mega Mart has ensured customer satisfaction with many different innovative loyalty programs and through a very customer-friendly return policy, making it a popular place for millions of shoppers across India.

Vishal Mega Mart IPO Objectives

Vishal Mega Mart is offering entirely an offer for sale, which means the existing shareholders are offering their shares as an in-public issue; there will be no fresh issue by the company. The funds received from the public issue will be directly credited to the respective selling shareholders bank account.

Financials of Vishal Mega Mart Limited

Vishal Mega Mart financials show strong performance during the period ended March 31 2024, compared to March 31 2023:

1.    Assets increased from Rs 8,288.91 crores in March 2023 to Rs 8,506.08 crores in March 2024, a 2.62% increase.

2.    Revenue increased from Rs 7,586.04 crores to Rs 8,911.95 crores, a 17.48% increase.

3.    Profit After Tax (PAT) increased from Rs 321.27 crores in March 2023 to Rs 461.94 crores in March 2024,   a 43.78%   increase.

4.   In March 2023, the company had 133.50 crores as a total borrowing; later, the company covered all of its borrowings, and now they have no outstanding    borrowings as of March 2024. FY ended.

Lead manager(s) and Registrar of Vishal Mega Mart IPO

The IPO is managed by Kotak Mahindra Capital Company Limited, ICICI Securities Limited, Intensive Fiscal Services Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limitedwhich is the book-running lead manager for this public issue. The company has appointed KFin Technologies Limited as the registrar for this public issue.

Promoters of Vishal Mega Mart

Samayat Services LLP and Kedaara Capital Fund II LLP are the identifiable promoters (s) of the company. They collectively held 96.55% of the company's shares. However, post-IPO changes in their shareholding have not yet been disclosed in the Prospectus filed by the company with SEBI. To read the full DRHP, click here.

Also Read:

• What is IPO?
• What is IPO GMP?
• Difference between IPO and FPO For Beginners