Vishal Mega Mart IPO: This IPO will make you rich, know complete details!
Vishal Mega Mart IPO: Vishal Mega Mart company is going to launch an IPO of one billion dollars. Switzerland’s Partners Group and India’s Kedara Capital will sell shares through IPO. Let us now know in detail about Vishal Mega Mart IPO.
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Vishal Mega Mart IPO Details
Vishal Mega Mart CEO Gunender Kapoor did not respond when Reuters contacted him for comment. Kedar also did not respond and Partners Group also decided not to comment. But hey, there’s an update about the Vishal Mega Mart IPO on X (formerly Twitter), check out the image below for more details.
Vishal Mega Mart owner
The owner of Vishal Mega Mart is a person named Ramchandra Agarwal. This big company is preparing to launch a huge IPO of 1 billion dollars. The budget-friendly supermarket chain could be valued at up to $5 billion, according to two insiders. They plan to use some of the money raised to open more stores.
Swiss company Partners Group and Indian firm Kedar Capital are going to sell shares in Vishal Mega Mart IPO. However, we are not sure exactly how much stake they own in Vishal Mega Mart or how many shares they will sell. It’s also unclear whether they plan to retain majority ownership in the company for the long term.
Challenging Tata and Ambani: The Rise of Vishal Mega Mart!
Vishal Mega Mart has around 560 stores across the country, mostly in smaller towns, where they sell clothing and groceries. They compete with big players like Mukesh Ambani’s Reliance Industries, Tata Group’s Trent, and grocery giant Avenue Supermarts.
Both of them said that investment banks have been invited for the IPO this week and this offering is likely to happen at the end of this year.
With the Indian economy booming and a stable political environment, bankers and analysts expect an increase in IPO activity. They are optimistic about Prime Minister Narendra Modi’s chances of securing a third term in the upcoming May elections, which adds to the positive outlook.
According to a report by India Ratings, Vishal Mega Mart’s revenue grew by 36% to Rs 75.9 billion in the last financial year ending March 2023. Their net profit also increased by 60% to Rs 3.2 billion during the same period.
Vishal Mega Mart: Where will the funds be used?
Vishal Mega Mart has planned to launch an IPO of $1 billion i.e. about Rs 8300 crore. With this, their total value can potentially reach Rs 41,500 crore. They aim to expand their store network using some of the funds raised from the IPO.
Experts at Boston Consulting Group estimate that India’s retail market could reach $2 trillion by 2033, a significant jump from its current value of about $840 billion. Vishal Mega Mart, known for affordable T-shirts starting at Rs 99 ($1.5) and jeans priced at $9, makes almost half of its revenue from clothing sales, insiders have revealed. Along with groceries, the company also offers a range of home appliances.
Partners Group and Kedar acquired Vishal Mega Mart in 2018 from rival buyout firm TPG and India’s Shriram Group for about $350 million.
Disclaimer
We are not financial advisors, but here’s a friendly tip: The information provided here is not investment advice. If you’re thinking about getting into the stock market, it’s always a good idea to talk to your financial advisor first. They’ve got your help!
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