Vishal Mega Mart’s initial public offering (IPO) opens for subscription on December 11, with the company targeting to raise Rs 8,000 crore through an Offer for Sale (OFS).
The IPO, priced in the range of Rs 74-78 per share, is a 100% OFS comprising 102.56 crore shares. The subscription window will close on December 13.
The IPO is being managed by a consortium of top financial institutions, including Kotak Mahindra Capital, ICICI Securities, JP Morgan India, Morgan Stanley India, Jefferies India, and Intensive Fiscal Services.
Vishal Mega Mart IPO: Grey Market Premium (GMP) Trends
The grey market premium (GMP) for Vishal Mega Mart shares indicates strong investor interest. Currently, the GMP stands at Rs 24 per share, reflecting a potential 31% premium on the listing. This is a notable rise from the Rs 17 GMP recorded over the weekend.
Minimum Investment and Lot Sizes
Retail investors can participate in Vishal Mega Mart IPO by purchasing a minimum lot of 190 shares. The minimum investment to participate in the IPO is Rs 14,820. For small non-institutional investors, the minimum application size is 14 lots (2,660 shares) or Rs 2.07 lakh. Large non-institutional investors must apply for at least 68 lots (12,920 shares), which will mean that they need to invest at least Rs 10.07 lakh.
Key Dates and Listing Information
The allotment of shares is expected to be finalized on December 16. The IPO shares will be listed on both the BSE and NSE, with the listing tentatively scheduled for December 18. KFin Technologies is the IPO registrar.
About Vishal Mega Mart
Founded in 2001, Vishal Mega Mart is a leading hypermarket chain in India. The company retails fashion, home essentials, and FMCG products. It operates 645 franchised stores across 414 cities. It has over 11 million square feet of retail space. The company reported a 17.41% revenue growth and a 43.78% rise in profit after tax in FY24.
Disclaimer: The above information is for informational use only. Get legal advice from certified finance personnel before investing.
