Vishal Mega Mart IPO: ICICI Bank and Kotak Bank Help to Arrange Share Sale

Vishal Mega Mart, an Indian supermarket chain has picked two private sector banks to arrange share sale as it moves forward for an IPO. These two banks are ICICI Bank and Kotak Mahindra Bank which will help Vishal Mega Mart to arrange a share sale as early as in the fourth quarter of this FY. 

Vishal Mega Mart, an Indian supermarket chain has picked two private sector banks to arrange share sale as it moves forward for an IPO. These two banks are ICICI Bank and Kotak Mahindra Bank which will help Vishal Mega Mart to arrange a share sale as early as in the fourth quarter of this FY. 

Vishal Mega Mart is owned by private equity firms – Partners Group Holding AG and Kedaara Capital. This Initial public offering will help to offload the shares of private equity firms.

The Gurugram-based company Vishal Mega Mart could raise between $850 million and $1 billion in the offering. In the future, other banks may be included in the IPO process. 

The private equity firm - Partners Group based in Switzerland and India focused private equity firm Kedaara bought Vishal Mega Mart from the investment firm TPG Capital in 2018. The amount was still undisclosed. 

Also Read | Aadhar Housing Finance IPO: SEBI Approves Rs 5000 Crore IPO

About Vishal Mega Mart Company

Vishal Mega Mart is one of the leading brands in the supermarket chain industry. The company has many stores across the states of India and more stores are opening. It has a wide presence and has stores in the prime location of cities. The huge footprints on a daily basis in their offline stores shows that sales are consistent and business is profitable.

One of Vishal Mega Mart's competitors is Avenue Supermarts—DMart. Dmart's share price has outperformed in the last few years and is at highs. Therefore, the Vishal Mega Mart IPO is likely to get a huge response from investors due to its proven business model. 

Currently, Indian stock market indices, including the Nifty 50, are at an all-time high, and IPOs are continuously hitting the market. Investor sentiment seems very positive, so this IPO may also generate a decent listing gain. 

Also Read | Greenhitech Ventures IPO: All Important Details Covered Here