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On day 3 of subscription, the Rs 8,000 crore preliminary share sale of grocery store chain Vishal Mega Mart obtained subscribed 2.48 instances on Friday
Vishal Mega Mart IPO
Vishal Mega Mart IPO Live Updates: Vishal Mega Mart, a hypermarket chain backed by Kedaara Capital, launched its preliminary public providing (IPO) on Wednesday, December 11. The public problem enters its final day of bidding at this time, December 13. On December 10, the corporate raised Rs 2,400 crore from varied international and home institutional traders by means of its anchor e-book.
Vishal Mega Mart IPO Subscription Status: Last Day
It is the final day to subscribe to the IPO of Vishal Mega Mart. The problem has been booked 1.63 instances. The retail traders subscribed to the IPO 1.23 instances. However, it was led by the NIIs, who subscribed to the difficulty greater than 4 instances.
Vishal Mega Mart IPO Price Band
Backed by Kedaara Capital, Vishal Mega Mart has set a value band of Rs 74-78 per fairness share for its Rs 8,000 crore IPO, which closes on December 13. The bidding window for anchor traders opened on December 10 and remained open for a day.
The minimal lot measurement for retail traders is 190 shares, requiring an funding of Rs 14,820. Small non-institutional traders should bid for no less than 14 heaps (2,660 shares), totaling Rs 2.07 lakh. Large non-institutional traders have to bid for not less than 68 heaps (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 continually on the downtrend because the problem launch and at present has a GMP of round Rs 17, which is a 22% premium over the difficulty value.
Vishal Mega Mart IPO Proceeds
The complete Rs 8,000 crore IPO is a suggestion on the market (OFS), which means the proceeds will go to the promoting shareholders, not the corporate itself.
Vishal Mega Mart IPO Review
Several brokerage companies have given constructive evaluations for the Vishal Mega Mart IPO, recommending long-term investments:
- Choice Brokerage: Recommends subscribing with a long-term view, citing regular development and powerful prospects, particularly in Tier-2 cities.
- AUM Capital: Also recommends a long-term subscription, highlighting Vishal Mega Mart’s aggressive edge within the retail sector and its robust financials.
- Master Capital Services: Suggests a long-term purchase, noting that the corporate is well-positioned within the retail marketplace for center and lower-middle-income shoppers.
- Bajaj Broking: Recommends a long-term subscription however notes that the IPO is priced aggressively, significantly when it comes to the P/E ratio.
- Swastika Investmart: Views the IPO as appropriate for high-risk traders, acknowledging Vishal Mega Mart’s robust market place however highlighting the upper dangers on account of its valuation.
About Vishal Mega Mart
Vishal Mega Mart (VMM) is a number one retail chain serving middle- and lower-middle-income shoppers throughout India. The firm affords a mixture of in-house and third-party manufacturers in attire, common merchandise, and FMCG classes. In FY24, Vishal Mega Mart reported revenues of Rs 8,900 crore and operates 645 shops in 414 cities throughout 30 states and union territories, overlaying 11.5 million sq. toes of retail house.
