Dec 05, 2024 08:48 PM IST
As of June 30, 2024, Vishal Mega Mart operates 626 shops throughout India, together with a cellular app and web site.
Vishal Mega Mart, a significant supermart model, is about to launch its ₹8,000 crore preliminary public providing (IPO) on December 11 for public subscription.
In response to the corporate’s crimson herring prospectus (RHP), the IPO will conclude on December 13 and the bidding for anchor buyers can be open for a day on December 10.
Vishal Mega Mart caters to center and lower-middle-income shoppers in India.
In response to the up to date Draft Pink Herring Prospectus (DRHP), the IPO is an Supply For Sale (OFS) of shares by promoter Samayat Providers LLP, with no recent concern of fairness shares.
In response to a PTI report, Samayat Providers LLP holds 96.55 per cent stake in Gurugram-based Vishal Mega Mart.
For the reason that IPO is solely an OFS, the corporate is not going to obtain any funds from the difficulty and the proceeds will go to the promoting shareholder.
Up to date DRHP filed in October
The corporate filed its DRHP in October after its confidential supply doc was accredited by market regulator Securities Change Board of India (SEBI) on September 25.
The corporate filed its supply doc in July via the confidential pre-filing route. Underneath the confidential submitting course of, SEBI opinions confidential DRHP and offers feedback on it.
The corporate floating an IPO information an replace to the confidential DRHP (UDRHP-I) after incorporating the regulator’s feedback. This UPDRHP-I is made accessible for public feedback over 21 days.
After incorporating the modifications as a consequence of public feedback, the corporate is required to replace the DRHP-II (UDRHP-II).
Vishal Mega Mart caters to center and lower-middle-income shoppers in India. The product vary contains each in-house and third-party manufacturers, masking three key classes — attire, normal merchandise, and fast-moving client items (FMCG).
As of June 30, 2024, it operates 626 shops throughout India, together with a cellular app and web site.
(With PTI inputs)
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