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Vishal Mega Mart IPO is a book-built issue of Rs 8,000.00 crores. The issue is entirely an offer for the sale of 102.56 crore shares.
Vishal Mega Mart IPO opens for subscription on December 11, 2024, and closes on December 13, 2024. The IPO price band is set at ₹74 to ₹78 per share and the minimum lot size for an application is 190 Shares.
Company Summary
Incorporated In 2001, Vishal Mega Mart is a hypermarket chain that sells a wide range of products like apparel, groceries, electronics, and home essentials.
They own their brands and third-party brands to meet the everyday needs of consumers. The company offers a wide range of products across apparel, general merchandise, and FMCG, including its brands for clothing, home furnishings, travel accessories, kitchen appliances, food, non-food items, and staples.
The company targets middle and lower-middle-income people, through a Pan India network of 645 Vishal Mega Mart stores (as of September 30, 2024) and their Vishal Mega Mart mobile app and website. As of September 30, 2024, the company has a presence across 414 cities in 28 states and two union territories.
The company operates an asset-light business model, leasing all its distribution centers and stores, while its products are manufactured by third-party vendors or sourced from third-party brands.
As of September 30, 2024, their direct local delivery service, managed by their employees, had 6.77 million registered users and was available in 600 stores across 391 cities in India.
The Company is ranked as one of the top two offline-first diversified retailers in India. As of September 30, 2024, they had 16,537 employees.
Their Brand portfolio:
- Apparel: Classics, Fashion, Denim, Ethnic
- General Merchandise: Tandem Home Appliances, Home Select, Home Finery
- FMCG: Savory Products, Staples, Home Care
Company Strengths
- Serving a Large and Growing Section of the Indian Population
- Consumer-Centric Approach Resulting in a Large and Loyal Consumer Base
- Diverse and Growing Portfolio of their Brands across Product Categories
- Pan-India Presence with a Track Record of Successful Store Growth
- Technology Enabled and Systems Driven Operations
- Professional and Experienced Management Team
- Track Record of Delivering Revenue, Profit Growth, and Capital Efficiency
Company Financials
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 9,551.75 | 8,506.08 | 8,288.91 | 8,217.98 |
| Revenue | 5,053.42 | 8,945.13 | 7,618.89 | 5,653.85 |
| Profit After Tax | 254.14 | 461.94 | 321.27 | 202.77 |
| Net Worth | 5,923.74 | 5,646.59 | 5,180.84 | 4,849.93 |
| Reserves and Surplus | 1,390.27 | 1,113.12 | 649.50 | 321.88 |
| Total Borrowing | – | – | 133.50 | 497.41 |
Amount in ₹ Crore | ||||
Objectives of the IPO
The Company will not receive any proceeds of the Offer for Sale by the Promoter Selling Shareholder. The Promoter Selling Shareholder will be entitled to the entirety of proceeds of the Offer for Sale after deducting its portion of the Offer-related expenses and the relevant taxes thereon.
Promoters of the Company
The Promoters of the Company are Samayat Services LLP (“Samayat Services”) and Kedaara Capital Fund II LLP. KedaaraCapital Fund II LLP along with its affiliate holds controlling interest in Rishanth Services LLP (“Rishanth Services”).
Further, Rishanth Services holds a controlling interest in Rishay Services LLP (“RishayServices”)which in turn holds a controlling interest in the Promoter, Samayat Services, which holds 4,453,118,981 Equity Shares of face value of ₹10 each equivalent to 96.46% of the issued, subscribed and paid-up Equity Share capital of the Company, on a fully diluted basis. Kedaara Capital Fund II LLP does not hold any Equity Shares in the Company
IPO details
| IPO Date | December 11, 2024 to December 13, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹74 to ₹78 per share |
| Lot Size | 190 Shares |
| Total Issue Size | 1,025,641,025 shares (aggregating up to ₹8,000.00 Cr) |
| Offer for Sale | 1,025,641,025 shares of ₹10 (aggregating up to ₹8,000.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 190 | ₹14,820 |
| Retail (Max) | 13 | 2470 | ₹192,660 |
| S-HNI (Min) | 14 | 2,660 | ₹207,480 |
| S-HNI (Max) | 67 | 12,730 | ₹992,940 |
| B-HNI (Min) | 68 | 12,920 | ₹1,007,760 |
Allotment Schedule
| Basis of Allotment | Monday, December 16, 2024 |
| Initiation of Refunds | Tuesday, December 17, 2024 |
| The credit of Shares to Demat | Tuesday, December 17, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 13, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
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