The initial public offering (IPO) of supermart major Vishal Mega Mart is scheduled to open for subscription on December 11. The three-day issue will close on December 13, with bidding for anchor investors scheduled for one day on December 10.

The price band for the offer will be announced soon.

Vishal Mega Mart shareholders aim to raise approximately ₹8,000 crore via the IPO.

The proposed IPO will be entirely an offer-for-sale (OFS) of shares by promoter Samayat Services LLP, with no fresh issue of equity shares, as per the updated Draft Red Herring Prospectus (UDRHP).

Currently, Samayat Services LLP holds 96.55% stake in the Gurugram-based supermart major.

Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.

Vishal Mega Mart is a one-stop destination catering to middle- and lower-middle-income consumers in India. The product range includes both in-house and third-party brands, covering three key categories — apparel, general merchandise, and fast-moving consumer goods (FMCG).

As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website.

Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India and Morgan Stanley India Company are the book-running lead managers to the issue.