Vishal Mega Mart IPO fully booked; check day 2 subscription status, price band and other key details

The initial public offering (IPO) of Vishal Mega Mart Ltd was fully subscribed on the second day of bidding on Thursday, December 12, after a slow start on the opening day.

The mainboard issue is open for subscription from December 11 to December 13.

The supermarket chain received bids for more than 83.77 crore shares against 75.67 crore shares on offer, leading to an overall subscription of 1.11 times, as per the NSE data till 2:45 pm on the second day of bidding.

The Non-Institutional Investors (NIIs) led the demand, subscribing their reserved portion 2.62 times with bids for more than 42.41 crore shares against 16.21 crore shares set aside for them.

The retail category was booked 94% with applications for over 35.47 crore shares compared to 37.83 crore shares allocated for the segment. The Qualified Institutional Buyers’ (QIBs) category was booked 27%. The QIBs applied for more than 5.87 crore shares against 21.62 crore shares allocated to them.

Vishal Mega Mart IPO details

The maiden share sale by the supermarket chain owner is a book-building issue comprising entirely an offer-for-sale (OFS) of 102.56 crore shares. The price band for the IPO has been set in a range of ₹74 to ₹78 per share.

Retail investors can place bids for the Vishal Mega Mart IPO for a minimum of a single lot size of 190 shares. For retail investors, the minimum investment is ₹14,820, while the maximum investment is ₹1,92,660 for 13 lots, amounting to 2,470 shares.

Small High Net-Worth Individuals (S-HNI) can bid for a minimum of 2,660 shares, amounting to ₹2,07,480, with the option to apply for up to 12,730 shares at ₹9,92,940. Big High Net-Worth Individuals (B-HNI) can start with a bid of 12,920 shares, which requires an investment of ₹10,07,760.

Kotak Mahindra Capital Company Limited, ICICI Securities Limited, Intensive Fiscal Services Private Limited, Jefferies India Private Limited, JP Morgan India Private Limited and Morgan Stanley India Company Pvt Ltd serving as the book-running lead managers for the IPO. Kfin Technologies Limited is acting as the registrar for the issue.

Vishal Mega Mart IPO dates

Vishal Mega Mart IPO will close for bidding on December 13. Investors can expect the basis of allotment to be finalised by Monday, December 16. Refunds for unsuccessful applicants will be initiated by Tuesday, December 17, and shares will be credited to the Demat accounts of successful bidders on the same day.

Following the allotment process, the listing date for the Vishal Mega Mart shares on both the BSE and NSE is scheduled for Wednesday, December 18.

About Vishal Mega Mart Ltd

Vishal Mega Mart Ltd., established in 2001, is a hypermarket chain offering a wide variety of products, including apparel, groceries, electronics and home essentials. The company features both its own brands and third-party products. Its range spans across apparel, general merchandise, FMCG, clothing, home furnishings, travel accessories, kitchen appliances, food and other essentials.

Vishal Mega Mart primarily targets middle and lower-middle-income groups, operating with 645 stores across 414 cities in 28 states and two union territories as of September 30, 2024. The company has a strong online presence through its mobile app, website and other e-commerce platforms.