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Vishal Mega Mart IPO Day 2: Based on the gray market tendencies from the final eight periods, right this moment’s IPO GMP is on the rise and suggests a sturdy itemizing
Vishal Mega Mart IPO Day 2
Vishal Mega Mart IPO Day 2 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 second day of bidding right this moment, December 12, and can conclude on Friday, December 13. On December 10, the corporate raised Rs 2,400 crore from numerous world and home institutional buyers by means of its anchor e-book. On Day 1 of the bidding, the Vishal Mega Mart IPO was subscribed 51%, in keeping with BSE knowledge. Despite a dynamic market surroundings, the allocation for non-institutional buyers (NIIs) was absolutely subscribed.
Vishal Mega Mart IPO Subscription Status: Day 2
On Day 1 of bidding, the Vishal Mega Mart IPO noticed a 51% subscription, with 38.58 crore shares bid out of the 75.67 crore shares out there, in keeping with NSE knowledge. Retail particular person buyers drove the demand with a 53% subscription, whereas the non-institutional buyers’ quota was oversubscribed at 1.11 occasions.
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 buyers opened on December 10 and remained open for a day.
The minimal lot dimension for retail buyers is 190 shares, requiring an funding of Rs 14,820. Small non-institutional buyers should bid for at least 14 heaps (2,660 shares), totaling Rs 2.07 lakh. Large non-institutional buyers must bid for a minimum of 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)
As of right this moment, Vishal Mega Mart’s IPO GMP is Rs 21, indicating a premium of Rs 21 within the gray market, in keeping with investorgain.com. This suggests an estimated itemizing value of Rs 99 per share (26.92% increased than the IPO value of Rs 78). The GMP has been rising over the previous eight periods, reflecting robust demand and expectations for a sturdy itemizing. The lowest GMP recorded throughout this era was Rs 13, whereas the very best reached Rs 25, in keeping with investorgain.com.
Vishal Mega Mart IPO Proceeds
The whole Rs 8,000 crore IPO is a proposal on the market (OFS), that means the proceeds will go to the promoting shareholders, not the corporate itself.
Vishal Mega Mart IPO Review
Several brokerage corporations have given optimistic opinions 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 customers.
- 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 buyers, acknowledging Vishal Mega Mart’s robust market place however highlighting the upper dangers as a result of its valuation.
About Vishal Mega Mart
Vishal Mega Mart (VMM) is a number one retail chain serving middle- and lower-middle-income customers throughout India. The firm gives a mixture of in-house and third-party manufacturers in attire, normal 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, protecting 11.5 million sq. toes of retail area.
