Subscriptions from the retail individual investors stood at 0.19 times, the non-institutional investors had subscribed by 0.19 times, while the qualified institutional investors had not made any subscriptions yet.
The IPO is a book-built issue of Rs 8,000 crore, and the offering is entirely an offer for sale (OFS) of 102.56 crore shares.
Vishal Mega Mart IPO: GMP today
The grey market activity signals strong demand, with today’s GMP of Rs 19 indicating a potential listing premium of about 24.4%.
Vishal Mega Mart IPO: Price band
The supermarket store operator had fixed the price band for the IPO at Rs 74-78 per equity share. The minimum lot size for an application is 190 Shares and the minimum amount of investment required by retail investors is Rs 14,820.Meanwhile, the minimum lot size investment for small non-institutional investors is 14 lots, which is equivalent to about 2,660 shares, amounting to Rs 2.07 lakh, and big non-institutional investors, the minimum investment is 68 lots, equivalent to 12,920 shares, amounting to Rs 10.07 lakh.
Vishal Mega Mart IPO: Opening date, allotment and listing date
The Vishal Mega Mart IPO was set to open for public subscription on December 11 with the issue closing on December 13. Meanwhile, the allotment for the IPO is expected to be finalised on December 16.
The shares of Vishal Mega Mart will be listed on both the stock exchanges, BSE and NSE, with a tentative listing date fixed as December 18.
Vishal Mega Mart IPO: Net proceeds
The entire issue of the Vishal Mega Mart IPO is an offer for sale (OFS), which means no proceeds from the issue will go to the company.
Vishal Mega Mart IPO: Review
Analysts advised investors to subscribe to the issue as the company has a loyal consumer base with a diverse and growing portfolio of its own brands.
At the upper price band, the company is valued at P/E of 67.83x, with an EV/EBITDA of 28.1x and a market cap of Rs 35,168 crore post-issue of equity shares.
“We believe that the IPO is fairly priced and recommend a Subscribe-Long term rating to the IPO,” said brokerage firm Anand Rathi.
“Considering positive industry growth opportunities, expected rise in demand, healthy store additions, and presence in the online channel, we assign a “Subscribe” rating on a medium- to long-term basis,” brokerage firm Geojit said.
About Vishal Mega Mart
Founded in 2001, Vishal Mega Mart is a fashion-centric hypermarket chain with a strong presence across India. The General Merchandise section features home and kitchen appliances alongside travel products, while the Food and Groceries section stocks a range of FMCG items, including personal and household care essentials. In 2018, the company underwent a significant ownership change when Partners Group of Switzerland and India’s Kedaara Capital acquired a majority stake. As of September 30, the brand operates 645 franchised stores in 414 cities, encompassing more than 11 million square feet of retail space.
The company currently boasts a market capitalization of Rs 35,168.01 crore. In FY24, the company achieved a year-on-year revenue growth of 17.41%, with its profit after tax soaring by 43.78%.
The public offer is managed by KFin Technologies, appointed as the official registrar. Leading the IPO are Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India, ensuring robust management of the process.
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