Vishal Mega Mart, the supermarket chain, has set a price band of ₹74-₹78 per share for its ₹8,000 crore initial public offering (IPO). The IPO will open for subscription from December 11 to December 13, with anchor investor bidding scheduled for December 10.
Key IPO details:
- Offer structure: The IPO is entirely an Offer for Sale (OFS), with Samayat Services LLP, the majority stakeholder holding 96.55% of the company, offloading shares worth ₹8,000 crore.
- Face value: ₹10 per share.
Lot size and investment:
Investors can bid for a minimum of one lot consisting of 190 shares. At the upper price band of ₹78, the minimum investment required will be ₹14,820.
Reservation details:
- Qualified Institutional Buyers (QIBs): 50% of the net offer.
- Retail investors: 35%.
- Non-institutional investors: 15%.
IPO timeline:
- Subscription period: December 11 to December 13.
- Allotment date: December 16.
- Refund initiation: December 17.
- Credit to Demat accounts: December 17.
- Listing date: December 18 (on NSE and BSE).
Book-running lead managers:
The IPO is being managed by Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd, Intensive Fiscal Services Pvt Ltd, ICICI Securities Ltd, JP Morgan India Pvt Ltd, and Morgan Stanley India Company Pvt Ltd. KFin Technologies has been appointed as the IPO registrar.
About Vishal Mega Mart:
Vishal Mega Mart operates 645 stores across India and offers products in three key categories: FMCG, apparel, and general merchandise. It also provides a digital shopping experience via its mobile application and website.
This IPO is one of the biggest public offers this year, following Hyundai Motors India (₹27,000 crore), Swiggy (₹11,000 crore), and NTPC Green (₹10,000 crore).
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