New Delhi. Supermarket chain Vishal Mega Mart, backed by Kedar Capital and Partners Group, is planning to launch its ₹8,000 crore initial public offering (IPO) in mid-December 2024. This will be the largest private equity-backed IPO of this year and will be recorded as the fourth largest share sale of 2024.
It was initially planned to be launched in late November, but due to the recent improvement in the market it was postponed to the middle of next month. According to sources, there is strong interest from investors regarding the growth of the Indian consumer market in the long run.
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contact with foreign investors
The company is conducting roadshows with foreign institutional investors in major centers like London and Singapore. Shares will be sold in this IPO by shareholder Samayat Services LLP. The company will not issue any new shares through IPO.
financial performance
In 2023-24, Vishal Mega Mart reported revenue of ₹8,911.9 crore, up from ₹7,586 crore in the previous fiscal. Its profit increased to ₹461.93 crore, whereas in 2022-23 it was ₹321.27 crore.
strong brand portfolio
The company has a total of 626 stores and distributes its products across three main categories—apparel, general merchandise and FMCG. Its 19 brands generated sales of more than ₹100 crore in FY24. At the same time, 6 brands crossed the figure of ₹ 500 crore.
investment bank incorporated
Major investment banks like Kotak Mahindra Capital, ICICI Securities, Jefferies, JP Morgan and Morgan Stanley have been appointed to manage the IPO. Experts believe that this IPO reflects the growth of India’s consumer market and the strong hold of Vishal Mega Mart’s brands.
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Tags: business news, IPO
FIRST PUBLISHED: November 19, 2024, 15:55 IST
