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Vishal Mega Mart, a number one grocery store chain, will launch its preliminary public providing (IPO) on December 11; Should you subscribe?
Vishal Mega Mart IPO.
Vishal Mega Mart, a number one grocery store chain, will launch its preliminary public providing (IPO) on December 11, with plans to lift Rs 8,000 crore by means of a proposal on the market (OFS) mechanism. The firm’s shares are presently buying and selling at a 31% premium within the gray market, with the most recent gray market premium (GMP) standing at Rs 24.
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 is able to shut on December 13. The bidding window for anchor buyers will open on December 10 and stay open for a day.
The minimal lot measurement for retail buyers is 190 shares, requiring an funding of Rs 14,820. Small non-institutional buyers should bid for no less than 14 tons, or 2,660 shares, totaling Rs 2.07 lakh. Large non-institutional buyers might want to bid for no less than 68 tons, or 12,920 shares, amounting to Rs 10.07 lakh.
Vishal Mega Mart IPO: Key Dates
The IPO will open for public subscription on December 11 and shut on December 13. Allotments are anticipated to be finalized by December 16, with the shares scheduled for itemizing on the BSE and NSE on December 18.
Vishal Mega Mart IPO: Grey Market Premium (GMP)
The gray market is displaying robust demand for Vishal Mega Mart shares, with the present GMP of Rs 24 signaling a possible itemizing premium of round 31%. This marks a rise from the Rs 17 GMP seen over the weekend.
Vishal Mega Mart IPO Proceeds
The whole Rs 8,000 crore IPO is a proposal on the market (OFS), which means that the proceeds won’t go to the corporate however can be paid to the promoting shareholders.
About Vishal Mega Mart
Vishal Mega Mart (VMM) is a number one retail chain catering to middle- and lower-middle-income customers throughout India. Its product vary features a mixture of in-house and third-party manufacturers, overlaying three key classes: attire, basic merchandise, and fast-moving shopper items (FMCG).
The firm recorded revenues of Rs 8,900 crore in FY24 and operates 645 shops throughout 414 cities in 30 states and union territories, overlaying a retail house of 11.5 million sq. ft.
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