The wait is over!

Vishal Mega Mart’s IPO is set to launch on December 11th and will be open for subscription until December 13th, 2024.

IPO price band: INR 74 to INR 78 per equity share

Key Highlights

Investors will need to apply in multiples of 190 shares, as one lot of the IPO consists of 190 shares. Ahead of the official subscription opening, Vishal Mega Mart shares have already begun trading in the grey market, where they are currently being offered at a premium of INR 24, according to some reports.

Grey Market Premium (GMP) for Vishal Mega Mart IPO

As of today, the Grey Market Premium (GMP) for Vishal Mega Mart’s IPO stands at INR 24, marking an increase from the INR 17 GMP observed over the weekend. Despite the relatively falt performance in the broader Indian stock market, the rise in the IPO’s GMP signals a positive outlook. 

Analysts attribute this increase to the bullish momentum in the secondary market, particularly as the Nifty 50 index continues to trade above the 24,600 level. They predict that the GMP could continue to rise as the IPO garners strong interest from retail investors, likely due to its modest size and favourable market conditions.

Vishal Mega Mart IPO Status: Important Dates

Vishal Mega Mart IPO Overview

Vishal Mega Mart aims to raise INR 8,000 crore through a complete Offer for Sale (OFS). The share allotment process is expected to conclude by 14th December 2024, though delays could push this to 16th December. For FY24, Vishal Mega Mart reported impressive growth, with a 17.41% year-on-year increase in revenue and a significant 43.78% rise in Profit After Tax  (PAT). The IPO has attracted considerable attention, with a market capitalization of INR 35,168.01 crore.

In a Nutshell

the Vishal Mega Mart IPO promises to be a noteworthy event, with strong market signals suggesting a successful debut. This retail chain generates about half of its revenue from apparel, with private labels contributing significantly to its profitability. In the financial year ending March 2023, Vishal Mega Mart’s revenue grew 36%  to Rs. 75.9 billion, while net profit surged 60% to Rs. 3.7 billion. The IPO comes at a time of strong macroeconomic conditions in India, where the retail market is projected to grow significantly.

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