The Vishal Mega Mart IPO, one of the most anticipated public offerings, has concluded its bidding phase, raising an impressive ₹8,000 crore through an offer-for-sale (OFS). Investors are eagerly awaiting the allotment, expected to finalize on December 16, 2024. With a strong response from retail and institutional investors, the IPO is poised for significant listing gains. Here’s everything you need to know about the allotment, GMP trends, and listing details.
IPO Key Details
| Particulars | Details |
|---|---|
| IPO Dates | December 11-13, 2024 |
| Price Band | ₹74-78 per share |
| Lot Size | 190 shares and multiples thereafter |
| Total Issue Size | ₹8,000 crore |
| Type of Issue | 100% Offer-for-Sale (OFS) |
| Overall Subscription | 27.28 times |
| Listing Date | December 18, 2024 |
| Stock Exchanges | BSE and NSE |
Subscription Details
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 80.75 times |
| Non-Institutional Investors (NIIs) | 14.24 times |
| Retail Investors | 2.31 times |
The IPO witnessed an overwhelming demand, fetching bids worth ₹1.60 lakh crore, underscoring the strong investor interest.
Grey Market Premium (GMP)
- Current GMP: ₹19-20
- Expected Listing Gains: Approximately 25%, reflecting strong investor confidence.
- Trend: GMP improved from ₹16 on the last bidding day to its current level.
About Vishal Mega Mart
Incorporated in 2001, Gurugram-based Vishal Mega Mart operates one of India’s largest hypermarket chains. The company offers:
- Wide Product Range:
- Apparel, groceries, electronics, and home essentials.
- Both private labels and third-party brands.
- Efficient Supply Chain:
- Ensures cost-effective operations and competitive pricing.
Broker Recommendations
Positive Outlook:
- Strong Presence:
- Wide footprint and efficient operations in the retail sector.
- Financial Performance:
- Consistent growth and strong historical performance.
- Reasonable Valuation:
- Viewed as attractive in a competitive market.
Concerns:
- OFS-Only IPO:
- Proceeds will not contribute directly to business growth.
- Thin Margins:
- Retail is a highly competitive sector with limited pricing flexibility.
How to Check Allotment Status
On BSE Website:
- Visit BSE IPO Allotment Portal.
- Select Equity under “Issue Type.”
- Choose Vishal Mega Mart Limited from the dropdown.
- Enter Application Number and PAN ID.
- Click on “I am not a Robot” and hit Search.
On KFin Technologies Website:
- Visit KFin IPO Status Portal.
- Select the IPO from the dropdown.
- Enter your Application Number, Demat Account Number, or PAN ID.
- Choose ASBA or non-ASBA under “Application Type.”
- Fill in the captcha and click Submit.
Financial Highlights
| Period | Net Profit (₹ crore) | Revenue (₹ crore) |
|---|---|---|
| FY24 (March 2024) | ₹432.21 | ₹12,756.32 |
| Q1 FY25 (June 2024) | ₹112.45 | ₹3,215.67 |
Vishal Mega Mart’s financial performance reflects its strong operational capabilities and revenue growth in the retail sector.
Important Dates
| Event | Date |
|---|---|
| Allotment Finalization | December 16, 2024 |
| Fund Debits/Unblocking | December 17, 2024 |
| Listing Date | December 18, 2024 |
Conclusion
The Vishal Mega Mart IPO has garnered significant investor interest, with robust subscription numbers and strong GMP trends indicating potential listing gains. As the retail chain continues to expand its market presence, the IPO represents a solid opportunity for long-term investors. Monitor your allotment status and prepare for the listing date on December 18, 2024.
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Disclaimer
This article is for informational purposes only and does not constitute financial advice. Please consult a financial advisor before making investment decisions.
