Vishal Mega Mart Limited’s initial public offering (IPO) opened up for subscription on Wednesday, December 11, 2024, and the issue closed today, December 13. The company is raising Rs 8,000 crores through this IPO. Furthermore, the minimum number of shares an individual could buy was 190. The company was offering 1,025,641,025 shares for sale at a price range of Rs 74 to Rs 78 apiece.
It is worth noting that on December 10, the company raised Rs 2,400 crore from several global and domestic institutional investors through its anchor book.
The overall subscription for the IPO on the last day reached 1.63 times the available shares. Here’s a breakdown of the subscriptions:
- Retail investors: 1.23 times subscribed.
- Non-Institutional Investors (NIIs): over 4 times subscribed, leading the demand.
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Vishal Mega Mart IPO: GMP And Other Details
The grey market premium (GMP) of the company’s IPO has been declining steadily since its launch and is currently trading at around Rs 17. This represents a 22% premium over the issue price, indicating a substantial premium in the unofficial market.
Other Details
- The registrar is to finalize the company’s IPO share allotment on December 16, 2024.
- The allotted shares will be credited in demat accounts by December 17, 2024.
- The company’s share may make their market debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 18, 2024.
- Retail investors could invest up to Rs 2,00,000, you can buy a maximum of 13 lots, which equals 2,470 shares.
Several brokerage firms, including AUM Capital, Master Capital Services, and Bajaj Broking, have recommended subscribing to the IPO for long-term gains, while Swastika Investmart suggests it’s suitable only for high-risk investors.
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