The ₹8,000 crore initial public offering (IPO) of Vishal Mega Mart has been met with an overwhelming response from investors, with the issue being oversubscribed 27.28 times by the end of the subscription period on December 13, 2024.
Subscription Details
- Qualified Institutional Buyers (QIBs): Subscribed 80.75 times
- Non-Institutional Investors (NIIs): Subscribed 14.25 times
- Retail Individual Investors (RIIs): Subscribed 2.31 times
The IPO saw enthusiastic participation across all categories of investors, reflecting strong demand for the retail giant’s shares.
Key Details of the IPO
- IPO Size: ₹8,000 crore
- Issue Type: Fully Offer-for-Sale, comprising 102.56 crore shares
- Price Band: ₹74-₹78 per share
- Minimum Lot Size: 190 shares, requiring a retail investment of ₹14,820
- Purpose: The IPO proceeds will entirely benefit the selling shareholders, with no funds allocated for Vishal Mega Mart’s operations.
Lead Managers
The IPO is managed by prominent book-running lead managers, including:
- Kotak Mahindra Capital
- ICICI Securities
- Intensive Fiscal Services
- Jefferies India
- J.P. Morgan India
- Morgan Stanley India
Registrar: Kfin Technologies
The response to the IPO highlights the confidence of investors in Vishal Mega Mart’s market position as a leader in the retail segment. The allotment of shares is expected to be finalized soon, with the listing likely to follow.
