Vishal Mega Mart Ltd has announced the price band for its ₹8,000 crore initial public offering (IPO) at ₹74-78 per share. The IPO will open for subscription from December 11 to December 13, with anchor bidding starting on December 10.
IPO Timeline and Allotment Details
- Subscription Dates: December 11-13, 2024
- Anchor Bidding: December 10, 2024
- Allotment Finalization: December 16, 2024
- Refunds and Share Credit: December 17, 2024
- Listing Date: December 18, 2024
The entire IPO is an offer for sale by the promoter, Samayat Services LLP, which holds 96.46% stake in the company. The market capitalization of Vishal Mega Mart at the upper price band of ₹78 will be around ₹36,120 crore.
Vishal Mega Mart caters to middle and lower-middle-income consumers across India, providing them with a wide array of products in various categories pertaining to apparel, general merchandise, and FMCG. The company operates 645 stores as compared to 576 stores in the previous year. Besides, it also maintains a great online presence through its mobile app and website.
For the first half of FY2025, Vishal Mega Mart reported:
- Total Income: ₹5,053.41 crore, up 19.3% from ₹4,235.44 crore in the same period last year.
- Net Profit: ₹254.14 crore, a 30% increase from ₹195.36 crore last year.
This IPO marks a significant milestone for Vishal Mega Mart as it strengthens its position in India’s growing retail market.
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Source: Moneycontrol
News Desk
