Vishal Mega Mart’s initial public offering (IPO), one of the largest public listings this year, is scheduled to go up for bid on Wednesday with the goal of raising Rs 8,000 crore. All revenues from the sale of the 102.56 crore shares in the Vishal Mega Mart IPO will go to the selling shareholders; the firm will not receive any money from the listing.
India’s middle- and lower-middle-class citizens can find whatever they need at Vishal Mega Mart Limited. In order to meet the everyday and aspirational needs of customers, the company curates a wide variety of items through a portfolio of brands and third-party brands. Through a network of 645 Vishal Mega Mart locations around India (as of September 30, 2024), as well as the Vishal Mega Mart website and mobile application, the company sells goods in three main product categories: clothing, general retail, and fast-moving consumer goods.
The price range for the Vishal Mega Mart IPO is Rs 74 to Rs 78 per share. Retail investors must deposit Rs 14,820 initially and buy a minimum of 190 shares in a single lot.
The minimum application for small non-institutional investors (sNII) entails 14 lots, or 2,660 shares, with a total investment of Rs 2,07,480. Large non-institutional investors (bNII) must, however, apply for a minimum of 68 lots, or 12,920 shares, with a Rs 10,07,760 total investment. Investors in various categories are guaranteed participation opportunities under this system, contingent on their financial capabilities.
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A number of well-known book-running lead managers have been recruited by the IPO, including Jefferies India, JP Morgan India, Morgan Stanley India Company, Intensive Fiscal Services, ICICI Securities, and Kotak Mahindra Capital Company.
“Good market standing in India. steady financial results, including rising sales and profits. fair pricing in comparison to its counterparts, which contributes to its reasonable valuation. The IPO generates no revenue for the company. Ideal for high-risk investors looking to get a taste of the retail industry,” stated Shivani Nyati, Swastika Investmart Ltd.’s Head of Wealth.
Through a number of complementing activities, such as expanding its product selection, expanding its hyperlocal offering, utilising technology and data from loyalty programs, and improving the in-store experience at stores, the company hopes to increase same-store sales. According to an IPO report from Master Capital Service Ltd., investors can make long-term investments in the IPO.
Latest GMP For Vishal Mega Mart IPO
In recent days, the Vishal Mega Mart IPO’s grey market premium (GMP) has decreased. It was Rs 25 at first, but as of 6:55 AM on December 11, 2024, it had fallen to Rs 19. By adding the GMP to the cap price, the expected listing price, given the IPO’s price band of Rs 78, is Rs 97. This means that a gain of 24.36% per share is anticipated.
Accordingly, even if the IPO may still present opportunities for investors to benefit upon listing, the lower GMP suggests a decline in demand or excitement in the grey market, which may be a reflection of general market sentiment or anticipated valuation issues.
On Monday, December 16, 2024, the share allocation for the Vishal Mega Mart IPO is expected to be finalised. With a scheduled listing date of Wednesday, December 18, 2024, the IPO is anticipated to make its debut on the BSE and NSE.