Indian hypermarket chain Vishal Mega Mart is targeting a wide range of customers with its affordable products and a strong online presence, reporting a CAGR growth in revenue, EBITDA, and PAT. The company's IPO is an offer-for-sale, with the aim to raise Rs 8,000 crore for its promoter Samayat Services. While brokerage firms such as SBI Securities recommend subscribing to the issue, Swastika Investmart cautions high-risk investors to bid with caution.
Vishal Mega Mart IPO: A Deeper Dive
Background
Vishal Mega Mart is a leading Indian hypermarket chain with a presence in 11 states and 43 cities. The company offers a wide range of products, including groceries, fashion, home appliances, and electronics, at affordable prices. Vishal Mega Mart has a strong online presence with a website and mobile app.
IPO Details
The company recently filed for an initial public offering (IPO) of Rs 8,000 crore (approximately $1.1 billion). The IPO is an offer-for-sale, with the aim to raise funds for its promoter Samayat Services. The IPO is expected to hit the markets in June 2023.
Financials
Vishal Mega Mart has reported strong revenue, EBITDA, and PAT growth in recent years. The company's revenue grew from Rs 2,318 crore in FY20 to Rs 3,431 crore in FY22, a CAGR of 17.3%. Its EBITDA grew from Rs 195 crore to Rs 308 crore, while its PAT grew from Rs 91 crore to Rs 147 crore over the same period.
Brokerage Recommendations
Several brokerage firms have recommended subscribing to the Vishal Mega Mart IPO. SBI Securities, for example, has a "Subscribe" rating on the issue, citing the company's strong growth prospects and attractive valuations. However, Swastika Investmart has cautioned high-risk investors to bid with caution, as the company operates in a highly competitive industry with thin margins.
Top 5 FAQs
1. What is the issue price range for the IPO?
The issue price range has not been announced yet.
2. When is the IPO closing date?
The IPO is expected to close on June 20, 2023.
3. Who are the lead managers for the IPO?
The lead managers for the IPO are ICICI Securities, Kotak Mahindra Capital Company, and JM Financial.
4. What is the company's market share in the Indian hypermarket industry?
Vishal Mega Mart has a market share of approximately 5% in the Indian hypermarket industry.
5. What are the company's key growth drivers?
Vishal Mega Mart's key growth drivers include its wide range of products, attractive pricing, and strong online presence. The company is also planning to expand its store network and introduce new product categories.
In a major move for the transportation sector, Kolkata Metro has successfully completed a preparatory run on its newest route, the Noapara-Jai Hind stretch. With this 6.2-km stretch, the city's metro network will now connect to the international airport, providing passengers with an easy and convenient means of travel. The Jai Hind Airport station, with its modern and advanced facilities, will serve as an entry point to the city, helping commuters save both time and money. This development not only marks Kolkata Metro's fifth route but also phase 1 of the 16-km Noapara-Barasat corridor. With Prime Minister Narendra Modi already inaugurating the first underwater metro project and with this new route set to open by March, Kolkata Metro continues to revolutionize the city's transportation system.
In a highly anticipated final match between Madhya Pradesh and Mumbai, skipper Rajat Patidar showed his leadership skills with a daring and bold decision. During the last over of the MP innings, Patidar was unhappy with an umpire's decision and requested a DRS. The third umpire then revised the decision and gave Patidar's team an extra delivery, resulting in a crucial six for the team. However, despite Patidar's impressive performance, Mumbai walked away with the title thanks to Indian T20I captain, Suryakumar Yadav and Suryansh Shedge's strong batting. Patidar, who showed signs of a promising player throughout the tournament, will now head into the IPL season with confidence and hopes to replicate his performance.
Indian pacer Jasprit Bumrah shined in the ongoing third Test against Australia, taking five wickets for 72 runs in 25 overs. With this performance, he not only broke Zaheer Khan and Ishant Sharma's record for most five-wicket hauls in Test cricket for India, but also became the first Indian bowler to pick up eight fifers in countries like Australia, England, South Africa, and New Zealand. Bumrah's impressive numbers also put him ahead of iconic figures like Kapil Dev in this category.
Adani Airport Holdings Limited's Sardar Vallabhbhai Patel International Airport in Ahmedabad has been recognized for its exceptional commitment to energy conservation, making it the only airport in India to receive the prestigious Certificate of Merit at the 'National Energy Conservation Awards 2024'. The airport's commitment to sustainability extends beyond energy conservation, with initiatives in place to reduce its environmental impact through waste reduction, recycling, and the use of fully renewable energy sources. By embracing innovative technologies and sustainable practices, SVPI Airport is setting a new benchmark for the aviation industry.
Suchir Balaji, a 26-year-old Indian-American researcher at OpenAI, was found dead in his San Francisco apartment on November 26, 2024. The Chief Medical Examiner has confirmed his death as a suicide. This comes after Balaji publicly accused the Microsoft-funded company of violating copyright laws and engaging in unethical practices while developing its popular AI tool, ChatGPT. Balaji's death has sparked further investigation into OpenAI's policies and practices.
As the crypto market begins to recover, traders are seeking opportunities to invest in top assets. Robbo AI claims to be the solution, with its advanced analytical features and user-friendly interface. This review will examine the platform's features and assess the validity of its claims, including fee-free transactions and demo trading options. However, traders are advised to proceed with caution due to the unregulated nature of cryptocurrencies.
A 45-year-old man from Kerala fell prey to cyber fraudsters who lured him through WhatsApp with a promise of lucrative returns from an investment app. Despite making deposits, the victim was denied access to his funds, prompting him to report the matter to the cyber police. This incident highlights the need for individuals to be cautious and verify the authenticity of investment platforms before making any financial decisions.
B.C. Ferries has submitted an application to build five new major vessels that will have increased accessibility for wheelchairs and pet areas. The company is seeking to meet growing demand, replace aging vessels, and prepare for future growth on its busiest routes. The vessels will also have the ability to convert to full electric power if infrastructure is available at terminals. The public has until Jan. 17 to provide feedback on the application before a decision is made by B.C. Ferries Commissioner Eva Hage.
The state of Bihar has recently attracted a whopping Rs. 36,000 crore investment from 238 companies, strengthening its position as a major business hub. This includes plans by AVPL International to build a drone manufacturing facility, further boosting the state's economy and job market. In addition, other states like Odisha and Tripura have also approved significant investments, with experts like Raghuram Rajan emphasizing the need for more labor-intensive industries in the country.
A new analysis by security company VulnCheck has revealed that over 4,000 Sophos firewall devices are still vulnerable to a critical vulnerability that allows hackers to run malicious code. The vulnerability, known as CVE-2022-3236, was disclosed and patched in September but many servers have yet to receive the official fix. Despite the fact that the vulnerability has already been exploited, a proof-of-concept exploit has not yet been made public online. Sophos has advised users to update their software to protect against potential attacks.