Vishal Mega Mart, a leading supermarket chain, will launch its initial public offering (IPO) on December 11; Should you subscribe?
Vishal Mega Mart, a leading supermarket chain, will launch its initial public offering (IPO) on December 11, with plans to raise Rs 8,000 crore through an offer for sale (OFS) mechanism. The company’s shares are currently trading at a 31% premium in the grey market, with the latest grey market premium (GMP) standing at Rs 24.
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Vishal Mega Mart IPO Price Band
Backed by Kedaara Capital, Vishal Mega Mart has set a price band of Rs 74-78 per equity share for its Rs 8,000 crore IPO, which will close on December 13. The bidding window for anchor investors will open on December 10 and remain open for a day.
The minimum lot size for retail investors is 190 shares, requiring an investment of Rs 14,820. Small non-institutional investors must bid for a minimum of 14 lots, or 2,660 shares, totaling Rs 2.07 lakh. Large non-institutional investors will need to bid for at least 68 lots, 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 close on December 13. Allotments are expected to be finalized by December 16, with the shares scheduled for listing on the BSE and NSE on December 18.
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Vishal Mega Mart IPO: Grey Market Premium (GMP)
The grey market is showing strong demand for Vishal Mega Mart shares, with the current GMP of Rs 24 signaling a potential listing premium of around 31%. This marks an increase from the Rs 17 GMP seen over the weekend.
Vishal Mega Mart IPO Proceeds
The entire Rs 8,000 crore IPO is an offer for sale (OFS), meaning that the proceeds will not go to the company but will be paid to the selling shareholders.
About Vishal Mega Mart
Vishal Mega Mart (VMM) is a leading retail chain catering to middle- and lower-middle-income consumers across India. Its product range includes a combination of in-house and third-party brands, covering three key categories: apparel, general merchandise, and fast-moving consumer goods (FMCG).
The company recorded revenues of Rs 8,900 crore in FY24 and operates 645 stores across 414 cities in 30 states and union territories, covering a retail space of 11.5 million square feet.
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