Vishal Mega Mart picks Kotak, ICICI for IPO: What we know, what we don’t

Vishal Mega Mart IPO: Supermarket chain Vishal Mega Mart Pvt picked banks ahead of a planned initial public offering (IPO)

which is scheduled for this year, Bloomberg report citing people in the know. Vishal Mega Mart chose Kotak Mahindra Bank Ltd. and ICICI Bank Ltd to help arrange a share sale.

When will Vishal Mega Mart IPO open?
This could take place as early as in the fourth quarter of this year, the report added citing unnamed sources who said that the deliberations were being kept private.

What are Vishal Mega Mart’s plans?
Vishal Mega Mart is owned by private equity firms Partners Group Holding AG and Kedaara Capital. The IPO would allow them to pare their stakes, the report claimed, adding that other banks are likely to be added to work on the IPO.

The Gurugram-based company could raise between $850 million to $1 billion in the offering, the report further claimed.

What we know about Vishal Mega Mart?
Partners Group which is based in Switzerland and India-focused private equity firm Kedaara bought Vishal Mega Mart from investment firm TPG Capital in 2018. The amount was not disclosed for the supermarket that offers fashion, general merchandise food and groceries.