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Business News/ Markets / Ipo/  Vishal Mega Mart IPO Day 2 Updates: Issue booked 1.54x so far, NII portion receives heavy bidding; Check latest GMP
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Vishal Mega Mart IPO Day 2 Updates: Issue booked 1.54x so far, NII portion receives heavy bidding; Check latest GMP

Vishal Mega Mart IPO Day 2 Updates: Vishal Mega Mart IPO price band is set at 74 to 78 per share. Subscription runs from December 11 to 13. The company aims for a market cap of 36,120 crore at the upper price band.

Vishal Mega Mart IPO Day 2 Updates: Vishal Mega Mart IPO date of subscription is scheduled for Wednesday, December 11, and will close on Friday, December 13. (Image: Company Website)Premium
Vishal Mega Mart IPO Day 2 Updates: Vishal Mega Mart IPO date of subscription is scheduled for Wednesday, December 11, and will close on Friday, December 13. (Image: Company Website)

Vishal Mega Mart IPO Day 2 Updates: Vishal Mega Mart IPO, a hypermarket chain backed by Kedaara Capital, launched its initial public offering (IPO) on Wednesday, December 11. The public issue enters second day of bidding process today, December 12, and will conclude on Friday, December 13. The company secured 2,400 crore from various global and domestic institutional investors through its anchor book on December 10. On the first bidding day, Vishal Mega Mart IPO subscription status was 51%, as per BSE data. Despite the IPO attempting to navigate a vibrant market, its allocation for non-institutional investors (NIIs) was completely subscribed. 

Vishal Mega Mart IPO price band has been set between 74 and 78 per equity share. The IPO is solely composed of an offer for sale (OFS) worth 8,000 crore from Samayat Services LLP, the promoter that possesses a 96.46 percent ownership in Vishal Mega Mart. At the upper price band of 78, the company is expected to have a market capitalization of around 36,120 crore.

Founded in 2018, Vishal Mega Mart operates as a hypermarket chain that provides a wide range of products such as clothing, food items, electronics, and household necessities.

Stay tuned for more updates

11 Dec 2024, 10:39:47 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Issue booked 5% on first bidding day so far

The initial public offer of Vishal Mega Mart IPO has been subscribed 5% on the first day of subscription today, at 10:33 IST, as per BSE data.

The initial share sale received bid for 3,61,90,820 shares against 75,67,56,757 shares on offer, according to BSE.

The portion for retail investors received 6% subscription while the quota for non-institutional investors got subscribed 8%. The qualified institutional buyers (QIBs) part is yet to be booked.

11 Dec 2024, 10:23:47 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: All you need to know about the firm 

The company provides products in three main categories: apparel, general merchandise, and fast-moving consumer goods. It has a nationwide network of 645 Vishal Mega Mart locations, along with its Vishal Mega Mart mobile app and website.

Its target market consists of middle and lower-middle-income consumers in India. Its proprietary brands play a significant and increasing role in its sales. The company utilizes a hub-and-spoke distribution model to procure products and manage inventory within its stores.

11 Dec 2024, 10:07:33 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Here's what Swastika Investmart says about the issue 

Leading offline retailer: Strong market position in India. Consistent financial performance: Growing revenue and profitability. Reasonable valuation: Fair pricing compared to peers.

Complete OFS: The Company receives no proceeds from the IPO. Investment recommendation: Suitable for high-risk investors seeking exposure to the retail sector.

11 Dec 2024, 09:54:17 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: All you need to know about the peers 

As per the red herring prospectus (RHP), the company's listed peers are Avenue Supermarts Ltd (with a P/E of 98.23 times), and Trent Ltd (with a P/E of 163.59).

11 Dec 2024, 09:39:56 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: All you need to know about the issue 

The initial public offering (IPO) consists entirely of an offer for sale (OFS) amounting to 8,000 crore by Samayat Services LLP, the promoter that holds a 96.46 percent stake in Vishal Mega Mart. At the upper price band of 78, the company is expected to have a market capitalization of around 36,120 crore.

11 Dec 2024, 09:20:08 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Check out key dates 

Tentatively, Vishal Mega Mart IPO basis of allotment of shares will be finalised on Monday, December 16, and the company will initiate refunds on Tuesday, December 17, while the shares will be credited to the demat account of allottees on the same day following refund. Vishal Mega Mart share price is likely to be listed on BSE and NSE on Wednesday, December 18.

11 Dec 2024, 09:11:25 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Check out IPO reservation details 

Vishal Mega Mart IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

11 Dec 2024, 08:55:26 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Here's all you need to know about Domestic institutional investors

Institutions such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra AMC, Nippon Life India, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Franklin, Mirae Asset, HDFC Life Insurance, SBI Life Insurance, Canara Robeco MF, Invesco, Tata MF, Max Life Insurance, Bajaj Holdings, UTI MF, Bajaj Allianz General Insurance, Baroda BNP Paribas MF, and Kotak Mahindra Life Insurance also received allotments of shares from the anchor book.

"Out of the total allocation of 30.76 crore equity shares to the anchor investors, 16.41 equity shares were allocated to 18 domestic mutual funds, which applied through a total of 44 schemes," the company said in its filing to exchanges on Tuesday.

11 Dec 2024, 08:43:08 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Check out anchor investor details 

Vishal Mega Mart has secured 2,400 crore from various domestic and global institutional investors through its anchor book on December 10. The company based in Gurugram mentioned in its exchange filing on Tuesday that it has completed the allocation of 30.76 crore equity shares to its anchor investors at a price of 78 per share.

Notable global institutional investors that took part in the anchor book include the Government of Singapore, the Monetary Authority of Singapore, JP Morgan, Custody Bank of Japan, Nomura, Blackrock, Government Pension Fund Global, Schroder International Selection Fund, HSBC Global, TIMF Holdings, CLSA Global, and Prudential Hong Kong.

11 Dec 2024, 08:31:13 AM IST

Vishal Mega Mart IPO Day 1 Live Updates: Here's what GMP signal's ahead of Day 1 

Vishal Mega Mart IPO GMP today is +19. This indicates Vishal Mega Mart share price was trading at a premium of 19 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vishal Mega Mart share price is indicated at 97 apiece, which is 24.36% higher than the IPO price of 78.

Based on the grey market trends from the last seven sessions, today’s IPO GMP is on the rise and suggests a robust listing. The lowest GMP recorded is 13, whereas the highest reaches 25, as noted by experts at investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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