Vishal Mega Mart IPO Opens Tomorrow: Key Dates, GMP, Price Band, and Why Analysts Recommend It!

The highly anticipated Vishal Mega Mart IPO is all set to launch on Wednesday, December 11, 2024. This supermarket chain aims to raise ₹8,000 crore through its public offering. The subscription window will remain open for three days, closing on Friday, December 13, 2024. Here’s everything you need to know about the IPO, including key details, dates, and expert reviews:

Key Details About Vishal Mega Mart IPO

1. IPO Dates: The Vishal Mega Mart IPO will be open for subscription from Wednesday, December 11, to Friday, December 13, 2024.

2. Price Band: The IPO price band has been set between ₹74 and ₹78 per share.

3. Lot Size: Investors can apply in lots, with each lot consisting of 190 equity shares. The minimum investment required is ₹14,820.

4. IPO Size: This IPO is an offer-for-sale (OFS) of 102.56 crore equity shares, totaling ₹8,000 crore at the upper price band.

5. Allotment and Listing Dates: The allotment of shares is expected to be finalized on December 16, 2024. The shares are likely to be listed on BSE and NSE on December 18, 2024.

6. Reservation Details:

• 50% of the issue is reserved for Qualified Institutional Buyers (QIB).
• 35% is reserved for Retail Investors.
• 15% is reserved for Non-Institutional Investors (NII).

7. Objective of the IPO: This IPO is purely an OFS by promoter Samayat Services LLP. The company itself will not receive any proceeds from the IPO; all funds will go to the selling promoter.

8. Book Running Lead Managers and Registrar: Kotak Mahindra Capital, ICICI Securities, Jefferies India, JP Morgan India, Morgan Stanley India, and Intensive Fiscal Services are the lead managers for the IPO. Kfin Technologies is handling the share allotment process as the registrar.

9. Grey Market Premium (GMP): The grey market premium (GMP) for Vishal Mega Mart IPO stands at ₹26 per share, indicating that shares are trading at ₹104 in the grey market, 33% higher than the upper IPO price band of ₹78.

10. Expert Review: Vishal Mega Mart is a prominent offline retailer offering a wide range of products through its private labels and third-party brands. Analysts at Swastika Investmart Limited note that the company has a strong market position and solid financial performance.

The IPO is considered reasonably priced compared to its competitors. Analysts recommend subscribing to the IPO, particularly for high-risk investors interested in the retail sector.

Why Should You Consider the Vishal Mega Mart IPO?

With a strong brand name, consistent financial performance, and competitive pricing, Vishal Mega Mart’s IPO offers an exciting opportunity to invest in India’s thriving retail sector. However, investors should be aware of the risks associated with market volatility and the competitive retail space.