Indian budget supermarket chain Vishal Mega Mart mulls $1b IPO

Indian budget supermarket chain Vishal Mega Mart mulls $1b IPO

Photo: Reuters

India’s Vishal Mega Mart is planning a $1 billion initial public offering that would value the budget supermarket chain at up to $5 billion with some of the proceeds earmarked to add stores, two people with direct knowledge of the plan said.