Vishal Mega Mart IPO Day 3: NII Portion Booked 7.71 times.
Vishal Mega Mart’s initial public offer (IPO) continued to be in demand as the subscription rate climbed to 3.33 times. The IPO’s subscription period is scheduled to conclude today and has received significant interest from non-institutional and retail investors.
Vishal Mega Mart IPO: Issue Details
Vishal Mega Mart’s ₹8,000 crore IPO is a book-built issue consisting entirely of an offer-for-sale component of 102.56 crore equity shares. The subscription period for the issue opened on December 11, 2024, and will conclude on December 13, 2024. The company will finalise the basis of the allotment of shares on December 16, 2024. Shares of Vishal Mega Mart will tentatively be listed on the stock exchanges on December 18, 2024.
Vishal Mega Mart: Subscription Details
(December 13, 2024, 12:25 p.m.)
Vishal Mega Mart’s IPO witnessed strong demand on the first day, with the issue being subscribed 0.51 times. At the end of the second day, the issue’s subscription rate continued to garner investors’ interest and was booked 1.54 times
On Day 3, the portion for qualified institutional buyers (QIBs) saw an increase in the subscription rate as it grew to 3.04 times with bids for 65.81 crore shares against 21.62 crore shares on offer. The company has set aside 16.21 crore shares for the non-institutional investors (NIIs) segment and received bids for 124.96 crore or 7.71 times.
Demand from the retail investor segment was strong on the third day as the portion was booked a total of 1.62 times. Out of the 37.83 crore shares reserved for retail investors, the company has received bids for 61.17 crore shares.
The issue was booked 3.3 times with bids for 251.95 crore shares against 75.67 crore shares on offer.
Vishal Mega Mart IPO: Price Band and Lot Size
The issue has a price band of ₹74-₹78 per share. To apply to the Vishal Mega Mart IPO, an investor will have to make a minimum investment of ₹14,820. The lot size for the IPO is set at 190 shares. The minimum lot size for small non-institutional investors and big non-institutional investors has been set at 14 lots and 68 lots, respectively.
About Vishal Mega Mart
Vishal Mega Mart is a hypermarket chain that was founded in 2001. The company has a network of over 645 stores as of September 30, 2024. The company has a pan-India presence with stores located in 414 cities. The company sells various goods, including apparel, electronics, groceries, and home essentials.
Since the issue is an offer-for-sale, the proceeds from the IPO will go to the promoter entity. Samayat Services and Kedaara Capital Fund II are the promoters of the company. After the issue, their shareholding will come down from 96.46% to 76.02%.
The company’s revenue for the quarter ended September 30, 2024, stood at ₹5,053 crore. Meanwhile, the profit for the quarter was ₹254.14 crore.
In FY24, Vishal Mega Mart’s net profit grew 43.78% year-on-year from ₹321.27 to ₹461.94 crore.