Vishal Mega Mart IPO: Allotment Status Out Today, Check GMP, Listing Date, And Other Details
The IPO of the hypermarket retail chain accepted bids from the public between December 11-13, 2024. The issue remained popular among investors and saw a strong response from the public
Vishal Mega Mart is all set to finalise the allotment of its initial public offering (IPO) on Monday, December 16, 2024. Applicants who place bids for the maiden issue will be able to find the final status of their applications via email or messages latest by Tuesday.
The IPO of the hypermarket retail chain accepted bids from the public between December 11-13, 2024. The issue remained popular among investors and saw a strong response from the public.
The offering was priced in the range of Rs 74-78 per share and included a minimum lot size of 190 shares. The Gurugram-based firm raised Rs 8,000 crore via the maiden issue, which was entirely an offer-for-sale (OFS) of up to 1,02,56,41,025 equity shares.
The issue received subscriptions of 27.28 times, with the portion set aside for qualified institutional buyers (QIBs) receiving 80.75 times bids. Meanwhile, non-institutional investors (NIIs) subscribed 14.24 times and retail investors placed 2.31 times bid for the IPO.
After witnessing a strong bidding from retail investors, the firm’s position in the grey market also improved. It commanded a grey market premium of Rs 19-20 in the parallel market, indicating listing gains of nearly 25 per cent for investors, reported Business Today. The grey market is an unofficial market which allows investors and traders to place their bets on an issue before its official listing in the stock exchanges.
The issue’s book-running lead managers were Kotak Mahindra Capital Company, J P Morgan India, Morgan Stanley India Company, ICICI Securities, Jefferies India, and Intensive Fiscal Services. Kfin Technologies acted as the registrar for the listing.
Set up in 2001, the firm sold a wide variety of products such as electronics, home essentials, groceries, and apparel.
The firm’s shares will make their debut in the stock market on Wednesday, December 18, 2024. To check the allotment status of their application, investors can visit the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or access it on KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus).
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