Vishal Mega Mart picks Kotak, ICICI for mega IPO

Vishal Mega Mart is preparing for a share sale, potentially occurring in the fourth quarter of this year, with Kotak Mahindra Bank Ltd and ICICI Bank Ltd selected to facilitate the arrangement. Owned by private equity entities Partners Group Holding AG and Kedaara Capital, the IPO aims to allow these firms to reduce their stakes. Additional banking partners are expected to join the IPO process.