Vishal Mega Mart IPO opens tomorrow. GMP, price band, other key details about upcoming IPO in 10 points | Stock Market News

Vishal Mega Mart IPO: The initial public offering (IPO) of supermarket stores operator Vishal Mega Mart Ltd is set to hit Dalal Street on Wednesday to raise ₹8,000 crore from primary market.

The three day subscription period of Vishal Mega Mart IPO will end on December 13 and the equity shares of the company will list on both the exchanges, BSE and NSE.

From Vishal Mega Mart IPO price band to review, here are 10 key things to know about the public issue.

From Vishal Mega Mart IPO: Key things to know

1] Vishal Mega Mart IPO Dates: Vishal Mega Mart IPO opens for public subscription on Wednesday, December 11, and closes on Friday, December 13.

2] Vishal Mega Mart IPO Price Band: Vishal Mega Mart IPO price band is set at ₹74 to ₹78 per share.

3] Vishal Mega Mart IPO Lot Size: Vishal Mega Mart IPO lot size is 190 equity shares. The minimum investment amount required by retail investors is ₹14,820.

4] Vishal Mega Mart IPO Details: Vishal Mega Mart IPO is entirely an offer-for-sale (OFS) of 102.56 crore equity shares. At the upper-end of the price band, Vishal Mega Mart IPO size is ₹8,000 crore.

5] Vishal Mega Mart IPO Allotment and Listing: Vishal Mega Mart IPO allotment is expected to be finalized on December 16, and the tentative listing date is December 18. The equity shares of Vishal Mega Mart will be listed on BSE and NSE.

6] Vishal Mega Mart IPO Reservation: The company has reserved 50% of the net offer for Qualified Institutional Buyers (QIB), 35% of the issue for Retail Investors and 15% of the offer for Non-Institutional Investors (NII).

7] Vishal Mega Mart IPO Objective: Vishal Mega Mart IPO is purely an OFS by promoter selling shareholder Samayat Services LLP. Hence, the company will not receive any proceeds of the IPO and the promoter selling shareholder will be entitled to the entirety of proceeds.

8] Vishal Mega Mart IPO BRLM, Registrar: Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India and Morgan Stanley India Company the book running lead managers of the Vishal Mega Mart IPO, while Kfin Technologies is the IPO registrar.

9] Vishal Mega Mart IPO GMP: Vishal Mega Mart IPO GMP today, or grey market premium today, is ₹26 per share, according to stock market observers. This indicates that in the grey market, Vishal Mega Mart shares are trading at ₹104 per share, higher by ₹26, or at a premium of 33% to the IPO price of ₹78 per share.

10] Vishal Mega Mart IPO GMP Review: Vishal Mega Mart is a hypermarket chain that curates a diverse range of merchandize through its portfolio of own brands and third party brands to fulfil the aspirational and daily needs of consumers.

Analysts at Swastika Investmart Ltd noted that Vishal Mega Mart is a leading offline retailer with strong market position and consistent financial performance. It believes the Vishal Mega Mart IPO is reasonably valued with fair pricing compared to peers.

The brokerage firm recommends a ‘Subscribe’ rating to Vishal Mega Mart IPO and is of the view that the issue is suitable for high-risk investors seeking exposure to the retail sector.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.