{"id":197356,"date":"2024-12-18T02:59:33","date_gmt":"2024-12-18T02:59:33","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/18\/vishal-mega-mart-set-to-debut-in-mumbai-after-944-million-ipo-times-of-india\/"},"modified":"2024-12-18T02:59:33","modified_gmt":"2024-12-18T02:59:33","slug":"vishal-mega-mart-set-to-debut-in-mumbai-after-944-million-ipo-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/18\/vishal-mega-mart-set-to-debut-in-mumbai-after-944-million-ipo-times-of-india\/","title":{"rendered":"Vishal Mega Mart set to debut in Mumbai after $944 million IPO &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/thumb\/msid-116417563,imgsize-552091,width-400,resizemode-4\/116417563.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Vishal Mega Mart set to debut in Mumbai after 4 million IPO &#8211; Times of India\" title=\"Vishal Mega Mart set to debut in Mumbai after 4 million IPO &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>Vishal Mega Mart Ltd\u2019s shares are set to start trading on Wednesday after raising $944 million in India\u2019s last major new listing of the year.<br \/>The sale attracted bids for over 27 times the 756.8 million shares offered at 78 rupees apiece, the top end of the price band, driven by strong demand from high-networth and retail investors. The IPO valued the Gurugram-based company at $4 billion.<br \/>The company runs a network of over 600 stores across India, catering to the middle- and lower-income consumers. Its debut comes amid a tough environment, with quick-commerce firms upending traditional brick-and-mortar retailers. Investor sentiment has cooled toward Avenue Supermarts Ltd, the operator of DMart chain and the country\u2019s largest value retailer.<br \/>Vishal Mega Mart may still fare better than its rivals, as 75% of its stores are in second-tier cities and smaller towns. \u201cThe company\u2019s focus on value pricing is attracting customers,\u201d said Rajan Shinde, an analyst at Mehta Equities Ltd., adding that the valuation \u2014 69 times annualized earnings for the latest fiscal year \u2014 is \u201creasonable\u201d compared to peers trading at 90-100 times.<br \/>Vishal Mega Mart derives over half its revenue from general merchandise and fast-moving consumer goods, with apparel accounting for the rest. It reported a profit of 4.6 billion rupees ($54 million) on a revenue of 89.1 billion rupees in the year ended March, according to its IPO document. <br \/>The company raised $283 million from anchor investors, including the Singapore government and funds managed by Nomura and Blackrock. The IPO underlined a strong year for India\u2019s equity markets, where over 300 companies have raised almost $18 billion in first-time share sales.<br \/>Founder Samayat Services LLP sold shares via the offering, with no fresh capital raised by the company.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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