The initial public offer (IPO) of Vishal Mega Mart has garnered overwhelming interest, with bids totaling a staggering 2,064.25 crore shares against the 75.67 crore shares on offer, resulting in an oversubscription of 27.28 times. The IPO, which opened for bidding on December 11, 2024, and closed on December 13, 2024, saw a price band set between Rs 74 and Rs 78 per share.
Offer Details and Subscription Overview
The IPO is entirely an Offer-for-Sale (OFS), with no fresh issue of equity shares. The total size of the offer is Rs 8,000 crore, which will be entirely directed to selling shareholder Samayat Services LLP. As the company will not be raising any funds, all proceeds from the sale will go directly to the seller.
Anchor Investor Support
Ahead of the IPO, Vishal Mega Mart raised Rs 30.76 lakh from 89 anchor investors on December 10, 2024. A total of 2,399.99 crore shares were allotted at Rs 78 per share, marking strong institutional backing for the public offer.
About Vishal Mega Mart (VMM)
Vishal Mega Mart, a prominent retail player, caters primarily to the middle and lower-middle-income consumer segments in India. The company offers an extensive range of products through its own brands and third-party offerings, addressing both aspirational and everyday needs. VMM operates in wholesale, cash, and carry trading under the Vishal brand and also grants franchise rights for its Vishal Mega Mart stores. Retail stores are managed by its wholly owned subsidiary, Airplaza Retail Holdings (ARHPL).
Financial Performance
For the six months ending June 30, 2024, Vishal Mega Mart reported a consolidated net profit of Rs 254.14 crore and total sales of Rs 5,032.51 crore, indicating strong financial performance.
As the IPO concludes, the robust subscription numbers reflect significant investor confidence in Vishal Mega Mart’s market position and future growth potential in India’s retail sector.
