Vishal Mega Mart IPO Day 3 Highlights: Vishal Mega Mart IPO has seen a subscription rate of 27.28 times by the third day of its offering, according to BSE data. On the third day of bidding, the IPO was primarily driven by Qualified Institutional Buyers, with Non Institutional Investors following suit. Although retail investors were fully subscribed, their participation was not exceptional.
ipo allotment status
The segment allocated for retail investors registered a subscription of 2.31 times, while the quota meant for non-institutional investors was subscribed 14.25 times. The portion reserved for qualified institutional buyers (QIBs) has been filled 80.75 times.
The initial share offering of supermarket chain Vishal Mega Mart, valued at ₹8,000 crore, achieved full subscription on the second day of bidding on Thursday, concluding with a subscription rate of 1.54 times. The segment allocated for non-institutional investors (NIIs) saw a subscription rate of 3.84 times, while Retail Individual Investors (RIIs) subscribed at 1.16 times. The portion designated for QIBs received a subscription of 48 percent.Â
On the first day of bidding, the subscription status for the Vishal Mega Mart IPO was at 51%, according to BSE data. Although the IPO embarked on its journey in a dynamic market, the allocation for NIIs was fully subscribed. On Tuesday, Vishal Mega Mart announced that it raised ₹2,400 crore from anchor investors.
ipo allotment status
Vishal Mega Mart IPO price band has been established between ₹74 and ₹78 per equity share. The IPO consists entirely of an offer for sale (OFS) amounting to ₹8,000 crore from Samayat Services LLP, the promoter that holds a 96.46 percent stake in Vishal Mega Mart. If the shares are priced at the upper limit of ₹78, the company is projected to have a market valuation of approximately ₹36,120 crore.
Launched in 2018, Vishal Mega Mart functions as a hypermarket chain offering a diverse array of products, including clothing, foodstuffs, electronics, and household items.
Vishal Mega Mart IPO Day 3 Live: Issue subscribed 27.28 times on third day
Mobikwik IPO Live: Vishal Mega Mart IPO has been subscribed 27.28 times on the third and final day as the issue received bids for 20,64,25,17,700 equity shares as against 75,67,56,757 shares on the offer, according to BSE data toll at 7:00 PM on Friday. The portion reserved for retail investors is subscribed 2.31 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 80.75 times, and the portion reserved for Non Institutional Investors (NII) is booked 14.24 times.
Vishal Mega Mart IPO Day 3 Live: Vishal Mega Mart IPO booked 27.28 times so farÂ
Vishal Mega Mart IPO booked 27.28 times so far
Vishal Mega Mart IPO Day 3 Live: Analysts review
Gaurav Garg, Research Analyst at Lemonn Markets Desk on Vishal Mega Mart IPO:
The IPO offers an attractive valuation at 76x FY24 PE, making it relatively affordable compared to industry peers and providing a promising opportunity for retail investors. The valuation is further supported by a robust 50% CAGR growth in EPS, which enhances its appeal.
Investors interested in the retail sector are encouraged to subscribe to this IPO. Allottees can consider holding the shares for long-term gains.
Vishal Mega Mart IPO Day 3 Live: Issue booked 27.28x on third bidding day so far
The initial public offer of Vishal Mega Mart IPO has been subscribed 27.28 times on the third day of subscription today, at 17:24 IST, as per BSE data.
The initial share sale received bid for 20,64,25,23,210 shares against 75,67,56,757 shares on offer, according to BSE.
The portion for retail investors received 2.31 times subscription while the quota for non-institutional investors got subscribed 14.25 times. The qualified institutional buyers (QIBs) part is booked 80.75 times.
Vishal Mega Mart IPO Day 3 Live: Check out Peer comparison by Choice BrokingÂ
The company is a one-stop destination serves middle and lower-middle-income consumers in India, offering a curated range of apparel, general merchandise, and FMCG products through 645 stores nationwide. The store features both own and third-party brands to meet everyday and aspirational needs. Majority of the company’s revenue comes from their own brand (70%). As of FY24, the company holds a major portion of its store in north India followed by east India and having future plans of expanding in west and south India. Over the years, the company’s top and bottom line has been steadily increasing. The companies main target is Tire-2 cities which are expected to grow its diversified retail sector at a 32% CAGR between CY23 and CY28.
Vishal Mega Mart IPO Day 3 Live: Issue booked 20.04x on third bidding day so far
The initial public offer of Vishal Mega Mart IPO has been subscribed 20.04 times on the third day of subscription today, at 15:27 IST, as per BSE data.
The initial share sale received bid for 15,16,21,40,220 shares against 75,67,56,757 shares on offer, according to BSE.
The portion for retail investors received 2.14 times subscription while the quota for non-institutional investors got subscribed 14.01 times. The qualified institutional buyers (QIBs) part is booked 55.87 times.