Vishal Mega Mart’s ₹8,000 crore IPO subscribed 51% on the first day with NIIs leading the charge – CNBC TV18
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The company already raised ₹2,400 crore from anchor investors ahead of the IPO opening.
The IPO will close for subscription on Friday, December 13.
The portion reserved for retail investors saw overall subscription of 53%, while the non-retail portion saw the highest subscription at 1.11 times the shares on offer at the end of the first day of bidding. Institutional investors so far have only placed bids for 62.95 lakh shares, compared to the 21.62 crore shares on offer for them.
The company will finalise the IPO allotment status on December 16. The IPO listing is scheduled for December 18. Shares of the company will be listed on the BSE and NSE.
Vishal Mega Mart IPO GMP
The latest GMP (grey market premium) for Vishal Mega Mart IPO stood at ₹19, as of 5 PM on December 11, as per reports. The GMP indicates a listing price of ₹98 apiece, a premium of nearly 25% from the issue price.
Analysts attribute this interest among investors to the company’s solid financials, market dominance, and promising expansion plans.
Founded in 2001, Vishal Mega Mart operated 645 stores across 414 cities in India as of September 2024, making it one of the largest hypermarket chains in the country. Catering primarily to middle and lower-middle-income groups, the company offers a diverse portfolio of private labels and third-party brands across categories such as groceries, apparel, kitchen appliances and home furnishings.
While the mainboard IPO has garnered attention in the grey market, with promising premiums, investors should consider company fundamentals, industry dynamics and associated risks before making their decisions. It’s important to note that the GMP or grey market premium is not an official price for any IPO stock and it is based on speculative price ahead of listing.
