Indian supermarket chain Vishal Mega Mart plans a $1bn IPO, valuing the company at up to $5bn, with proceeds to expand store count and partial stake sale to private equity firms.
Budget supermarket chain Vishal Mega Mart, India, is planning a $1 billion IPO, valuing the company at up to $5 billion. The IPO proceeds will be used to expand store count, with private equity firms Switzerland's Partners Group and India's Kedaara Capital, who together hold a majority stake in Vishal Mega Mart, selling shares in the offering. The Indian retail market is projected to reach $2 trillion by 2033.
March 12, 2024
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