Vishal Mega Mart IPO - Day 1 Subscription at 0.19 Times

Vishal Mega Mart's initial public offering (IPO) has received measured investor interest on its opening day. The IPO witnessed varied participation across categories, with subscription rates reaching 0.19 times by 12:25 PM on December 11, 2024.

The Vishal Mega Mart IPO, which opened on December 11, 2024, has seen different levels of participation across investor categories. The Non-Institutional Investors segment has shown the strongest early interest, reaching 0.28 times subscription, while

Retail Investors demonstrated notable participation at 0.26 times. The QIB portion is currently at 0.00 times the subscription.

This initial response comes as the company, one of India's leading hypermarket chains, seeks to provide an exit to its existing investors through a complete offer for sale.

Subscription Status of Vishal Mega Mart IPO:

*As of 12:21 PM

Here are the subscription details for Vishal Mega Mart IPO as of Day 1 (11th December 2024, 12:25 PM):

Total Applications: 3,96,171

Vishal Mega Mart IPO: IPO Key Highlights:

• The overall subscription started at 0.19 times on day one, showing an initial market response
• Non-institutional investors led with 0.28 times subscription, worth ₹335.403 crores
• Retail investors demonstrated early interest with 0.26 times subscription, worth ₹738.238 crores
• QIB portion is yet to see significant participation in the early hours
• Total bids received for 13,77,19,980 shares worth ₹1,074.216 crores
• Applications reached 3,96,171 on opening day
• Strong anchor investor participation secured ₹2,400 crores
• Opening day response indicates measured market assessment
• The initial subscription trend suggests a cautious investor approach

About Vishal Mega Mart Limited: 

Incorporated in 2001, Vishal Mega Mart has established itself as a leading hypermarket chain in India. The company has built a strong reputation through its comprehensive range of products including apparel, groceries, electronics, and home essentials, serving middle and lower-middle-income customers through 645 stores across 414 cities in 28 states and two union territories as of September 2024.

Operating with an asset-light model, the company leases all its distribution centers and stores. Their direct local delivery service has 6.77 million registered users across 600 stores in 391 cities. With 16,537 employees as of September 2024, the company has demonstrated strong financial performance, achieving 17.41% revenue growth and a 43.78% PAT increase between FY2023 and FY2024.

Highlights of the Vishal Mega Mart IPO:

• IPO Type: Book Built Issue
• IPO size: ₹8,000.00 crores
• Offer for Sale: 102.56 crore shares
• Face value: ₹10 per share
• Price band: ₹74 to ₹78 per share
• Lot size: 190 shares
• Minimum investment for retail investors: ₹14,820
• The minimum investment for sNII: ₹207,480 (14 lots)
• Minimum investment for bNII: ₹1,007,760 (68 lots)
• Listing at: BSE, NSE
• IPO opens: December 11, 2024
• IPO closes: December 13, 2024
• Allotment date: December 16, 2024
• Refund initiation: December 17, 2024
• Credit of shares: December 17, 2024
• Listing date: December 18, 2024
• Lead Managers: Kotak Mahindra Capital Company Limited, ICICI Securities Limited, Intensive Fiscal Services Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Pvt Ltd
• Registrar: Kfin Technologies Limited