Vishal Mega Mart, a leading hypermarket chain, is launching its initial public offering (IPO) from December 11 to December 13, 2024. The IPO aims to raise ₹8,000 crore entirely through an Offer-for-Sale (OFS), where promoter selling shareholder Samayat Services LLP will offload 102.56 crore equity shares.
Key Details of Vishal Mega Mart IPO
| Detail | Key Information |
|---|---|
| IPO Dates | December 11 to December 13, 2024 |
| Price Band | ₹74-₹78 per share |
| Lot Size | 190 shares (Minimum investment: ₹14,820) |
| IPO Size | ₹8,000 crore |
| Reservation | 50% QIB, 35% Retail, 15% NII |
| Allotment Date | December 16, 2024 |
| Listing Date | December 18, 2024 |
| GMP (Grey Market Premium) | ₹26 per share (33% premium over the upper price band) |
| Book Running Lead Managers | Kotak Mahindra Capital, ICICI Securities, Jefferies India, and others |
| Registrar | KFin Technologies |
Grey Market Premium (GMP)
The Vishal Mega Mart IPO is witnessing strong interest in the grey market, with shares trading at a 33% premium (₹26 above the upper price band). This reflects robust demand for the issue.
Objectives and Use of Funds
The IPO is entirely an Offer-for-Sale (OFS). As a result:
- Proceeds from the IPO will go to the promoter selling shareholder, Samayat Services LLP.
- The company will not receive any direct proceeds from the issue.
Analyst Views and Recommendations
Analysts at Swastika Investmart Ltd highlighted Vishal Mega Mart’s strong offline retail presence and consistent financial performance. With fair pricing compared to peers, the IPO is considered suitable for high-risk investors seeking exposure to the retail sector. The brokerage has given a ‘Subscribe’ rating, citing the company’s growth potential.
Conclusion
The Vishal Mega Mart IPO offers a chance to invest in a leading hypermarket chain with a robust market position. However, given the purely OFS nature of the issue, it is best suited for investors with a high-risk appetite and a long-term perspective.
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Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult a financial advisor before making investment decisions.