New Delhi: Ramchandra Agarwal, the founder of retail chain Vishal Mega Mart started his entrepreneurial journey as a humble photocopy shop owner. He gradually pivoted away from that business which earned him Rs 300 in 1986, towards the clithing business. Still not satisfied with the scale of the clothing shop, Agarwal proceeded to borrow money from his relatives and add it to his own saviongs to set up Vishal Retail.
This retail store grew into Vishal Mega Mart, a mega all-in-one retail store which catered to the middle class with attractive rates under one roof. To set up Vishal Retail, Ramchandra Agarwal moved base from Kolkata to Delhi.
How Vishal Mega Mart survived the 2008 financial crisis
Vishal Mega Mart was a listed company until the 2008 financial crisis brought the stock markets crashing down. Agarwal incurred a Rs 750 crore loss owing to the financial crisis. He was prompted to sell his business to the Shri Ram Group and TPG Capital. The business was then purchased by Kedaara Capital and the Partners Group. Under their ownership, Vishal Mega Mart has seen another turnaround.
While the Srir Ram Group and TPG Capital pourchased one half of the company, the remaining portion remained with Agarwal, who re-entered the business with the V2 Retail brand. This is another mega mart format store which is gainign ground fast in key cities.
Vishal Mega Mart IPO
Vishal Mega Mart IPO worth Rs 8,000 crore with a price band of Rs 74-78 apiece. Vishal mega Mart IPO GMo stood at Rs 19 per share on December 11, 2024, indicating a listing price of Rs 97 per share as of date. This indicates a 24 per cent premium over the IPO price, according to Investorgain.com. Vishal Mega Mart IPO was subscribed 31 per cent so far, according to exchange data.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Vishal Mega Mart IPO: Vishal Mega Mart founder Ramchandra Agarwal, a differently abled individual, started his entrepreneurial journey from a photocopy shop. Know how he built the successful retail empire and the ups and downs faced on this journey. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
