Vishal Mega Mart IPO closes day; Check GMP, subscription status, and more

Vishal Mega Mart IPO, which opened for public subscription on Wednesday, December 11, 2024, is set to close today

Vishal Mega Mart IPO subscription status: The Rs 8,000-crore public offering of retail store leader Vishal Mega Mart, which has so far received decent participation from investors, is set to close today, Friday, December 13, 2024. Vishal Mega Mart IPO has received bids for 1,42,42,53,490 shares against 75,67,56,757 shares on offer, resulting in an oversubscription of 1.88 times, according to NSE data.  Notably, Non-Institutional Investors (NIIs) led the demand for the IPO, oversubscribing their reserved category by 5.02 times, followed by Retail Individual Investors (RIIs) at 1.32 times. Meanwhile, the quota reserved for Qualified Institutional Buyers (QIBs) has been subscribed 0.51 times as of 10:24 AM on Friday, December 13, 2024.

 

 

The public issue, which is an entirely offer-for-sale (OFS) of equity shares, is available at a price band of Rs 74-78 per share with a lot size of 190 shares. Investors can bid for a minimum of 190 shares and in multiples thereof. A retail investor would require a minimum of Rs 14,820 to bid for one lot of 190 shares, and Rs 1,92,660 to bid for the maximum 13 lots of 2,470 shares in the public issue. 

 

The subscription for the Vishal Mega Mart IPO aligns with the grey market trends. The unlisted shares of Vishal Mega Mart were trading at Rs 94 apiece, reflecting a grey market premium (GMP) of Rs 16 or 20.51 per cent per share over the upper end of the IPO price band of Rs 78. However, today’s GMP for the IPO has dropped from Rs 21 recorded on December 11, when the issue opened for public subscription.

 

That said, Vishal Mega Mart has garnered reviews from several brokerages, including Bajaj Broking, Swastika Investmart, Master Capital Services, Choice, and AUM Capital. Market analysts remain optimistic about the public offering from a long-term perspective. READ MORE

 

As the subscription window for the Vishal Mega Mart IPO concludes today, the basis of allotment is likely to be finalized on Monday, December 16, 2024. Subsequently, successful allottees will receive the shares in their demat accounts by Tuesday, December 17, 2024.

 

Vishal Mega Mart shares are scheduled to list on the BSE and NSE tentatively on Wednesday, December 18, 2024.

 

Moreover, since the public offering comprises an entire offer-for-sale, Vishal Mega Mart will not receive any proceeds from the issue. Samayat Services LLP, the promoter selling shareholder, will receive the entire proceeds after deducting offer-related expenses and relevant taxes. 

Vishal Mega Mart offers a diverse range of merchandise through its portfolio of own brands and third-party brands to fulfil both aspirational and daily needs of its customers. The company engages in the business of wholesale, cash, and carry trading under the Vishal brand and grants franchise rights for Vishal Mega Mart franchise stores. The company operates retail stores through its wholly owned subsidiary, Airplaza Retail Holdings (ARHPL).