The much-anticipated initial public offering (IPO) of Vishal Mega Mart Limited opened for subscription on December 11, 2024, and is set to close today, December 13, 2024. This IPO has caught the attention of investors across categories, offering an exciting opportunity to invest in one of India’s leading hypermarket chains. Here’s all you need to know about the Vishal Mega Mart IPO in simple terms.
IPO Details
The company has set the price band for its IPO at ₹74 to ₹78 per equity share. Vishal Mega Mart aims to raise a total of ₹8,000 crore through this public issue, which is entirely an offer for sale (OFS). This means that the proceeds from the IPO will go to the existing shareholders selling their stake, and the company will not receive any funds directly.
Shares of Vishal Mega Mart are also trading in the grey market, providing insights into investor interest ahead of the official listing.
The grey market premium (GMP) reflects how much investors are willing to pay for IPO shares in the unofficial market. On the first day of bidding, Vishal Mega Mart’s shares were trading at a GMP of ₹17. By the second day, the GMP rose to ₹22, indicating strong demand and positive market sentiment.
Market observers suggest that if the stock market trends improve, the GMP could rise further, offering potential listing gains for investors.
Subscription Status
As of the final day of bidding, the Vishal Mega Mart IPO had been subscribed 1.97 times. Here’s a breakdown of the subscription figures:
- Retail Individual Investors (RIIs): Subscribed 1.34 times.
- Non-Institutional Investors (NIIs): Subscribed 5.37 times, showing strong interest from this category.
- Qualified Institutional Buyers (QIBs): Subscribed 0.51 times, which is below expectations.
The strong response from retail and non-institutional investors reflects the growing confidence in Vishal Mega Mart’s business potential.
Vishal Mega Mart has built a strong reputation as a leading hypermarket brand in India, offering a wide range of products at affordable prices.
It’s always wise to do thorough research or consult a financial advisor before investing. With the IPO set to close today, interested investors have limited time to apply.
