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On day 3 of subscription, the Rs 8,000 crore initial share sale of supermarket chain Vishal Mega Mart got subscribed 2.48 times on Friday
Vishal Mega Mart IPO
Vishal Mega Mart IPO Live Updates: Vishal Mega Mart, a hypermarket chain backed by Kedaara Capital, launched its initial public offering (IPO) on Wednesday, December 11. The public issue enters its last day of bidding today, December 13. On December 10, the company raised Rs 2,400 crore from various global and domestic institutional investors through its anchor book.
Vishal Mega Mart IPO Subscription Status: Last Day
It is the last day to subscribe to the IPO of Vishal Mega Mart. The issue has been booked 1.63 times. The retail investors subscribed to the IPO 1.23 times. However, it was led by the NIIs, who subscribed to the issue more than 4 times.
Vishal Mega Mart IPO Price Band
Backed by Kedaara Capital, Vishal Mega Mart has set a price band of Rs 74-78 per equity share for its Rs 8,000 crore IPO, which closes on December 13. The bidding window for anchor investors opened on December 10 and remained open for a day.
The minimum lot size for retail investors is 190 shares, requiring an investment of Rs 14,820. Small non-institutional investors must bid for a minimum of 14 lots (2,660 shares), totaling Rs 2.07 lakh. Large non-institutional investors need to bid for at least 68 lots (12,920 shares), amounting to Rs 10.07 lakh.
Key Dates for Vishal Mega Mart IPO
- Opening Date: December 11
- Closing Date: December 13
- Allotment Date: December 16
- Listing Date: December 18
Vishal Mega Mart IPO: Grey Market Premium (GMP)
Vishal Mega Mart’s GMP is constantly on the downtrend since the issue launch and currently has a GMP of around Rs 17, which is a 22% premium over the issue price.
Vishal Mega Mart IPO Proceeds
The entire Rs 8,000 crore IPO is an offer for sale (OFS), meaning the proceeds will go to the selling shareholders, not the company itself.
Vishal Mega Mart IPO Review
Several brokerage firms have given positive reviews for the Vishal Mega Mart IPO, recommending long-term investments:
- Choice Brokerage: Recommends subscribing with a long-term view, citing steady growth and strong prospects, especially in Tier-2 cities.
- AUM Capital: Also recommends a long-term subscription, highlighting Vishal Mega Mart’s competitive edge in the retail sector and its strong financials.
- Master Capital Services: Suggests a long-term buy, noting that the company is well-positioned in the retail market for middle and lower-middle-income consumers.
- Bajaj Broking: Recommends a long-term subscription but notes that the IPO is priced aggressively, particularly in terms of the P/E ratio.
- Swastika Investmart: Views the IPO as suitable for high-risk investors, acknowledging Vishal Mega Mart’s strong market position but highlighting the higher risks due to its valuation.
About Vishal Mega Mart
Vishal Mega Mart (VMM) is a leading retail chain serving middle- and lower-middle-income consumers across India. The company offers a mix of in-house and third-party brands in apparel, general merchandise, and FMCG categories. In FY24, Vishal Mega Mart reported revenues of Rs 8,900 crore and operates 645 stores in 414 cities across 30 states and union territories, covering 11.5 million square feet of retail space.
