Vishal Mega Mart IPO - Day 3 Subscription at 2.65 Times

The conclusion of Vishal Mega Mart's initial public offering (IPO) has demonstrated a notable transformation in investor participation patterns, with the overall subscription reaching 2.65 times by 11:59 AM on December 13, 2024. This final-day performance reveals an interesting divergence in investor category responses, reflecting varying perspectives on the retail sector's growth potential.

Vishal Mega Mart IPO closing response showcased particularly strong interest from Non-Institutional Investors, who drove their category subscription to an impressive 7.51 times, with large NIIs (bNII) showing exceptional confidence at 8.58 times subscription. The retail segment demonstrated growing confidence with 1.64 times subscription, while Qualified Institutional Buyers showed measured participation at 0.77 times. This pattern suggests a particularly strong conviction among high-net-worth individuals in Vishal Mega Mart's value retail business model and its potential to capture India's growing middle-income consumer segment.

The subscription dynamics across the three days reveal a steady build-up of investor interest, particularly notable in the NII category. This progressive improvement across days indicates growing market recognition of the company's strategic positioning in India's organized retail sector, its pan-India network of 645 stores, and its focus on value retail for middle and lower-middle-income segments.
 

Subscription Status of Vishal Mega Mart IPO:

*As of 11:59 AM

Here are the subscription details for Vishal Mega Mart IPO as of Day 3 (13th December 2024, 11:59 AM):

Total Applications: 26,59,252

Key Highlights: 

• Overall subscription reached 2.65 times, with the total bid value reaching ₹14,828.581 crores, reflecting growing confidence in Vishal Mega Mart's value retail model and expansion strategy
• Non-Institutional Investors showed exceptional interest with 7.51 times subscription worth ₹9,010.296 crores, particularly notable in the large NII segment at 8.58 times, indicating strong conviction from wealthy investors in the company's growth potential
• Retail investors' participation improved to 1.64 times subscription, mobilizing ₹4,592.774 crores, suggesting increasing confidence from individual investors in the company's consumer-focused business model
• QIB portion showed steady improvement to 0.77 times, demonstrating measured institutional interest in the company's long-term prospects
• Total applications reached 26,59,252, indicating broad-based investor participation across categories
• The subscription pattern revealed particularly strong confidence from high-net-worth individuals in the company's ability to capture India's growing middle-income consumer segment
• Strong NII participation suggested recognition of the company's asset-light model and established presence across 414 cities
• The final day response reflected a balanced assessment of the company's market position and growth potential in India's organized retail sector

Vishal Mega Mart IPO - Day 2 Subscription at 1.63 Times

Key Highlights: 

• Overall subscription improved to 1.63 times, demonstrating building momentum in investor interest across categories
• Non-Institutional Investors increased their participation significantly to 4.05 times, showing growing confidence from wealthy investors
• Retail segment strengthened to 1.23 times, indicating improving individual investor interest in the company's retail story
• QIB portion moved up to 0.50 times from initial day's levels, suggesting increasing institutional evaluation
• Day two response showed particular strength in the NII category, indicating growing recognition of the company's business model
• Subscription trends suggested improving market assessment of the company's value proposition
• The pattern indicated growing appreciation for the company's focus on middle and lower-middle-income segments
• Second-day momentum built a strong foundation for the final day's performance

Vishal Mega Mart IPO - Day 1 Subscription at 0.54 Times

Key Highlights: 

• Overall subscription began at 0.54 times, setting a base for future growth in investor interest
• Non-Institutional Investors showed early interest with 1.18 times subscription, indicating initial confidence from wealthy investors
• Retail participation started at 0.56 times, reflecting measured initial response from individual investors
• QIB portion opened at 0.03 times, suggesting careful institutional approach to evaluation
• Opening day response indicated methodical market assessment of the company's potential
• Initial subscription levels reflected careful evaluation of the retail sector dynamics
• First-day numbers suggested gradual building of investor interest
• Early response indicated market's measured approach to evaluating the company's growth prospects

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