The Vishal Mega Mart IPO, which closed for subscription on December 13, 2024, received an overwhelming response, being subscribed a total of 28.75 times. The retail portion was oversubscribed 2.43 times, while the non-institutional investor (NII) category saw a subscription of 15 times. The subscription was primarily driven by Qualified Institutional Buyers (QIBs), who subscribed to the issue 85.11 times.
Allotment Status and How to Check Online
Vishal Mega Mart will finalize the allotment of shares on December 16, 2024, and investors can check their allotment status online through Kfin Technologies, the registrar for the IPO. Here’s how:
- Visit the registrar’s website: Go to Kfin Technologies’ IPO allotment page.
- Navigate to the IPO allotment section: Hover over the ‘Products’ tab and click on the IPO allotment status under the ‘Investors’ section.
- Choose a link: Select one of the five available options.
- Fill in your details: Enter the required details like the company’s name, your D’mat account number/PAN number, and the captcha.
- Submit: Click the submit button to view your allotment status.
IPO and Listing Details
The Vishal Mega Mart IPO raised a total of Rs 8,000 crore by offering 102.56 crore shares from the promoters and selling shareholders. The price band was set between Rs 74 and Rs 78 per equity share. The company, known for its wide range of products like clothing, electronics, and groceries, has established itself as a go-to destination for middle- and lower-middle-income consumers in India.
The listing is expected to take place on December 18, 2024, on both the NSE and BSE mainboard segments.
Investment Perspective
According to Motilal Oswal Financial Services, the IPO is priced at a 76x FY24 P/E, which is considered reasonable compared to other peers in the retail sector. The company’s aggressive expansion plans and diversification into high-margin products are expected to drive future growth, making it an attractive investment opportunity.
Investment Options
The minimum investment for retail investors is one lot of 190 shares, totaling Rs 14,820. Small non-institutional investors (NIIs) can apply for 14 lots (2,660 shares), while large NIIs can apply for 68 lots (12,920 shares).
Lead Managers
The IPO was managed by Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India Company.
With a promising growth outlook and strong investor interest, the Vishal Mega Mart IPO marks a significant milestone in India’s retail sector.
