Vishal Mega Mart IPO sees huge response, subscribed 27.28 times at close

Vishal Mega Mart's Rs 8,000 crore initial public offer received 27.28 times subscription on the closing day of bidding on Friday. 

The initial public offer (IPO) got bids for 20,64,25,23,020 shares against 75,67,56,757 shares on offer, according to data available with the NSE. 

Category-wise, the Qualified Institutional Buyers (QIBs) portion received 80.75 times subscription while the quota for non-institutional investors got subscribed 14.25 times. Retail Individual Investors (RIIs) category fetched 2.31 times subscription. 

Vishal Mega Mart on Tuesday said it has mopped up Rs 2,400 crore from anchor investors. 

The IPO has a price range of Rs 74-78 apiece. 

The IPO of the Gurugram-based supermart major is entirely an offer-for-sale (OFS) of shares by promoter Kedaara Capital-led Samayat Services LLP, Samayat Services LLP, with no fresh issue of equity shares. 

Vishal Mega Mart's product range includes both in-house and third-party brands, covering three key categories -- apparel, general merchandise, and fast-moving consumer goods.

 

As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website. 

Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J P Morgan India, and Morgan Stanley India Company are the book-running lead managers for the issue. 

Shares of the company will be listed on the BSE and NSE.