Vishal Mega Mart is set to launch its ₹8,000 crore Initial Public Offer (OFS) for subscription starting Wednesday, December 11, and it will remain open until Friday, December 13.
The price band for the IPO has been established between ₹74 and ₹78 per share. As this is an Offer For Sale (OFS), the company will not receive any proceeds from the share sale.
Vishal Mega Mart is a diverse retailer operating 645 stores across India, an increase from 414 in the financial year 2024. Approximately 35% of these stores are located in Uttar Pradesh, Karnataka, and Assam.
The company aims to expand its store presence nationwide and enhance operational cost efficiencies. In a recent interview with CNBC-TV18, the management indicated plans to open 80 to 100 new stores each year. Additionally, Vishal Mega Mart is engaged in Quick-Commerce operations within a 7-10 km radius of its stores, currently available in 375 cities.
Around 30-40% of the company’s cash reserves, totaling nearly ₹700 crore, is earmarked for new store expansions.
According to reports, the current Grey Market Premium (GMP) for Vishal Mega Mart is ₹26, which represents a premium of roughly 33% over the upper IPO price of ₹78.
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