Vishal Mega Mart weighing confidential filing of IPO papers: Report

Vishal Mega Mart is reportedly planning to opt for confidential pre- filing route with Sebi for its initial public offering (IPO). Moneycontrol reported citing people in the know that if the ongoing deliberations are successful, Vishal Mega Mart would be the fourth IPO bound firm to choose the confidential mechanism after Tata Play, Oyo and Swiggy.

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The report claimed that the firm's draft papers are likely to be submitted to the regulator within the next 7-10 days. Depending on the offer for sale component, it could raise between $750 million to a $1 billion, a source in the know told the outlet.

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Vishal Mega Mart was acquired in May 2018 by Kedaara Capital and Partners Group from TPG. The chain's listed peers included Avenue Supermarts (DMart) and Shoppers Stop. Investment banks working on the Vishal Mega Mart IPO are Kotak Mahindra Capital, ICICI Securities, Jefferies, JP Morgan and Morgan Stanley.