Vishal Mega Mart IPO Closed
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Schedule of Vishal Mega Mart
| Issue open date | 11 Dec 2024 |
| Issue close date | 13 Dec 2024 |
| UPI mandate deadline | 13 Dec 2024 (5 PM) |
| Allotment finalization | 16 Dec 2024 |
| Refund initiation | 17 Dec 2024 |
| Share credit | 17 Dec 2024 |
| Listing date | 18 Dec 2024 |
| Mandate end date | 28 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 15 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 16 Mar 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Vishal Mega Mart
Established in 2001, Vishal Mega Mart is a fashion-focused hypermarket with stores across India. Its Clothing division offers fashion for Women, Men, and Kids. The General Merchandise section includes Home and Kitchen appliances, as well as travel-related products, while the Food and Groceries section features FMCG products such as personal and household care items. In 2018, Switzerland’s Partners Group and India’s Kedaara Capital jointly acquired a majority stake in the company. As of September 30, 2024, Vishal Mega Mart operated 645 franchised stores across 414 cities, covering over 11 million square feet of retail space.
Financials of Vishal Mega Mart
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹8000 crores |
| Fresh Issue | – |
| Offer for Sale | ₹8000 crores |
Strengths
- Serving middle-income groups with affordable product portfolios.
- Extensive network of 645 stores across India.
- Strong own-brand portfolio in multiple product categories.
- Technology-driven, efficient, and cost-effective operations management.
- Trust built through affordability, variety, and quality products.
- Experienced leadership with deep retail and consumer expertise.
Risks
- Reliance on third-party vendors for consistent production.
- Regulatory investigations may lead to penalties or disruptions.
- Adapting to shifting consumer preferences is a challenge.
- Demand prediction and inventory management affect operations.
- Revenue concentrated in a few states poses geographic risks.
- Dependence on key personnel impacts business continuity.
- Natural disasters and unrest threaten operational stability.
Media coverage
- Moneycontrol – Vishal Mega Mart files draft IPO papers to raise Rs 8,000 crore; no fresh equity issue
- Reuters – India’s budget supermarket chain Vishal Mega Mart files for $950 mln IPO
Subscription Figures for Vishal Mega Mart
Subscription numbers as of 5:00 PM on 13 Dec 2024:
| Category | Shares Reserved | Shares Bid | Subscription (No. of times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 21,62,16,215 | 17,45,85,59,260 | 80.75 |
| Non Institutional Investors | 16,21,62,163 | 2,30,99,28,420 | 14.24 |
| Retail Individual Investors (RIIs) | 37,83,78,379 | 87,32,10,170 | 2.31 |
| Total | 75,67,56,757 | 20,64,16,97,850 | 27.28 |