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Vishal Mega Mart IPO Allotment Live Updates: The IPO was subscribed to a total of 28.75 times on the last day i.e. December 13. The company raised a sum of Rs 8,000 crore from the primary market. The retail investors booked the issue 2.43 times. The allotment of shares will be finalised on December 16 by the registrar, Kfin Technologies.
Vishal Mega Mart IPO was opened on December 11. The listing is expected to be on BSE and NSE on December 18. The company’s IPO price band ranged from Rs 74 to Rs 78 per equity share. Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India Company are the book-running lead managers of the IPO.
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Vishal Mega Mart has a widespread network in Tier 1 (30%) and Tier 2 (70%) cities in India, with 645 stores as of September 2024. Over 40% is concentrated in Northern states, followed by 29% in eastern/ north-eastern states. VMML plans to open 90-100 stores annually, with visibility of opening ~1,400 stores over the next 15 years. New stores will be a mix of i) increasing presence in tier 1 cities (200-250 stores), ii) foraying in 17 tier 1 towns, where it is currently not present (200 stores) and iii) expanding into new tier 2+ towns (900 stores).
09:23 (IST) 16 Dec 2024 Vishal Mega Mart IPO Allotment Live Updates: Subscription status
The IPO was subscribed to a total of 28.75 times. The retail buyers booked the issue 2.43 times while NIIs subscribed to it 15.01 times. The subscription was dominated by the QIBs, bidding more than 85 times.
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