Vishal Mega Mart’s ₹8,000 crore IPO subscribed 1.53x on day 2; GMP now at ₹22 – CNBC TV18

The ₹8,000 crore IPO of Vishal Mega Mart is fully subscribed on the second day of bidding, according to data available on the exchanges.

The issue was subscribed 1.53x at the end of the second day.

Before the IPO opening, the company raised ₹2,400 crore from anchor investors.

Vishal Mega Mart IPO subscription details

As per updates at 7 PM on Thursday, the portion reserved for retail investors in Vishal Mega Mart IPO was also fully subscribed at 1.16x, while the non-retail category saw the highest demand, being subscribed 3.8x the shares on offer.

Qualified Institutional buyers, however, have submitted bids for only 10.3 crore shares, compared to the 21.62 crore shares allocated for them. The QIB portion of Vishal Mega Mart IPO has been booked 48% so far.

Vishal Mega Mart IPO details

Vishal Mega Mart IPO, a book-built issue, is entirely an offer for a share of 102.56 crore shares.

Retail investors can bid in the IPO with a minimum lot size of 190 shares, resulting in an investment of ₹14,820. With the subscription window closing on December 13, Vishal Mega Mart is slated to finalise the allotment of shares on December 16. Kfin Technologies Ltd is the registrar for the issue.

Vishal Mega Mart shares are scheduled to be listed on the BSE and NSE on December 18.

Vishal Mega Mart IPO Grey Market Premium (GMP)

The latest GMP for Vishal Mega Mart IPO stood at ₹22 as of 7 PM on Thursday. As per reports, shares of Vishal Mega Mart are likely to make their stock market debut at ₹101 per share, a 28% premium over the upper issue price.

It is important to note that the grey market premium is speculative and not an official indicator of the stock’s listing price.

About Vishal Mega Mart

Established in 2001, Vishal Mega Mart operates 645 stores across 414 cities in India (as of September 2024), catering primarily to middle and lower-middle-income groups. Its product range spans private labels and third-party brands in categories such as groceries, apparel, kitchen appliances, and home furnishings.

While the IPO has garnered attention and shows promising grey market premiums, investors are advised to carefully assess the company’s fundamentals, industry dynamics, and associated risks before making investment decisions.