Vishal Mega Mart IPO Opened Today - Day 1 Live Updates, Key Highlights, Subscription Status, and Insights
Vishal Mega Mart, an Indian retail chain backed by Kedaara Capital, launched its initial public offering (IPO) Today, December 11, 2024.
Vishal Mega Mart IPO Details
- The IPO is a complete offer for sale (OFS) of 102.56 crore shares, with the company aiming to raise ₹8,000 crore.
- The price band has been fixed at ₹74-78 per share.
- Investors can bid for a minimum of 190 shares and in multiples thereof.
- The minimum lot size investment for sNII is 14 lots (2,660 shares).
- The minimum lot size investment for bNII is 68 lots (12,920 shares).
- The IPO opens for subscription on December 11, 2024 and closes on December 13, 2024.
- The share allotment is expected to be finalized on December 16, 2024, and shares will be credited to investors' demat accounts by December 17, 2024.
- The listing on stock exchanges is tentatively scheduled for December 18, 2024.
Investor Category Shares Offered
|
Investor Category |
(%) |
|
Anchor Investor |
30 |
|
QIB |
20 |
|
NII (HNI) |
15 |
|
Retail |
35 |
Utilization of IPO Proceeds
The Company will not receive any proceeds from the Offer for Sale conducted by the Promoter Selling Shareholder. The entire proceeds from the Offer for Sale, after deducting the applicable portion of Offer-related expenses and relevant taxes, will be allocated to the Promoter Selling Shareholder.
Shareholding Pre & Post Issue
|
Shareholding |
% |
|
Shareholding Pre Issue |
96.46% |
|
Shareholding Post Issue |
76.02 |
Vishal Mega Mart IPO Day 1 Subscription Status
(December 11, 2024, 12:00:00 PM)
On the first day of bidding, the Vishal Mega Mart IPO achieved a subscription level of 0.16 times the total shares on offer.
- The Non-Institutional Investors (NIIs) subscribed to 0.22 times their allotted quota.
- The Retail Investors segment received an encouraging response, with subscriptions reaching 0.23 times their allocation.
- However, the Qualified Institutional Buyers (QIBs) segment, despite participating, recorded a subscription rate of 0.00 times.
Vishal Mega Mart Business Overview
Established in 2001, Vishal Mega Mart is a leading hypermarket chain offering a diverse range of products, including apparel, groceries, electronics, and home essentials.
The company caters to everyday consumer needs through its own brands and a variety of third-party brands. Its product portfolio spans apparel, general merchandise, and FMCG categories, featuring items such as clothing, home furnishings, travel accessories, kitchen appliances, food, non-food items, and staples.
Vishal Mega Mart primarily serves middle and lower-middle-income customers through a comprehensive Pan-India network of 645 stores (as of September 30, 2024), complemented by its mobile app and website. The company has an extensive presence across 414 cities in 28 states and two union territories.
Operating under an asset-light business model, the company leases all its distribution centres and retail outlets. Its products are either manufactured by third-party vendors or sourced from third-party brands.
Vishal Mega Mart Financial Highlights:
- Vishal Mega Mart Limited's revenue increased by 17.48% from Rs. 7,586 crore in FY23 to Rs. 8,912 crore in FY24.
- Profit after tax (PAT) rose by 43.78% between the financial year ending March 31, 2024 and March 31, 2023, from Rs. 321 crore to Rs. 462 crore, respectively.
Key Ratios
|
Years |
FY24 |
|
ROE |
8.41% |
|
ROCE |
11.4% |
|
EBITDA Margin |
14.01% |
|
PAT Margin |
5.18% |