Vishal Mega Mart Limited’s Initial Public Offering (IPO) opened today (11 December) 2024. The issue will open for application from 11 December to 13 December 2024. The price band of Vishal Mega Mart IPO is ₹74 to ₹78 per equity share. Interested investors can apply for the IPO in lots.
One lot of Vishal Mega Mart IPO will consist of 190 shares of the company. Vishal Mega Mart IPO is entirely based on Offer for Sale (OFS). It consists of Rs 102.56 crore equity. At the upper end of the price band, the issue size works out to Rs 8,000 crore.
Vishal Mega Mart IPO Subscription
Vishal Mega Mart IPO opening As of 10:06 am on the first day, the subscription of this public issue was 0.08 times. The retail category booking was 0.01 times and the non-institutional investors (NII) category subscription was recorded at 0.02 times.
Gray Market Price
Meanwhile, the grey market premium (GMP) of Vishal Mega Mart IPO is showing good signs. The current GMP is indicating good interest from investors ahead of the listing on December 18. According to market experts who keep an eye on grey market premium activities, the GMP of Vishal Mega Mart shares is up by 22 per cent. In such a situation, this IPO can give a direct return of more than 20 per cent on listing.
IPO will be listed on 18 December
After the IPO closes on Friday, December 13, the shares will be allotted on Monday, December 16. The shares will be credited to the investors‘ demat accounts on December 17 and then finally the company will be listed on the stock market on Wednesday, December 18. Let us tell you that Vishal Mega Mart has a tremendous reach among the upper lower class, lower middle class and middle class. Vishal Mega Mart is a one-stop destination for things used for everyday needs.
Company Business
Vishal Mega Mart is India’s leading retail chain company, which caters to the needs of middle and lower-middle class income group customers. The company sells clothing, general products and fast-moving consumer goods through its stores. As of June 30, 2024, Vishal Mega Mart has 626 stores across the country.
