IPO Dates and Overview
Vishal Mega Mart Limited’s IPO is opening for retail and institutional investors on 11 December 2024 and will close on 13 December 2024. Investments can be made in its retail and large categories. Anchor investors’ bidding date is 10 December 2024. The total amount of this IPO is up to ₹8,000 crore which will be a pure offer-for-sale (OFS). The amount of total IPO amount has increased so investment in IPO is expected to be quite high.
Issue Details
Issue Size: ₹8,000 crore
Face Value: ₹10 per share
Price Band: ₹74 – ₹78 per share
Bid Lot: Minimum 190 shares and multiples to be bid.
Post Issue Market Capitalization: Expected to be between ₹33,365 crore – ₹35,168 crore.
Category-wise Reservation
- Retail Investors (RII): 35% of the total issue or ₹ 2,800 crore is reserved for these head investors who can invest up to Rs 2 lakh. Minimum bid lot will be of ₹14,820 (190 shares).
- Non-Institutional Investors (NII): 5% is reserved for investors investing between ₹2 to ₹10 lakh (₹400 crore). Minimum bid will be ₹207,480 (2,660 shares).
- High Networth Investors(HNI):
10% is reserved for those bidding above ₹10 lakh (₹800 crore). Minimum bid will be ₹10,07,760 (19,920 shares). This HNI category investment is for big investors. - Qualified Institutional Buyers (QIB): 50% of the total issue or ₹4,000 crore is reserved. This includes financial institutions or bad banks. The amount of investment is more in this category.
Lead Managers (BRLM):
The lead managers of this IPO are Kotak Mahindra Capital, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India and Morgan Stanley India.
registrar
- The registrar of the IPO is KFin Technologies Ltd.
Listing:
Vishal Mega Mart shares will be listed on BSE and NSE.
IPO Timeline
Allotment Finalization: 16 December 2024
Refund Initiation/Unblocking of Funds: 17 December 2024
Shares Credit to Demat Account: 17 December 2024
Listing Date: 18 December 2024
Important Notes:
Application should be submitted through UPI or ASBA bank account, otherwise there is a risk of rejection.
This IPO market cap has been calculated on the basis of “exclusive of vested options”.
Analysis:
This IPO can be a big opportunity for retail investors, as the price band ₹74-₹78 is quite attractive. Vishal Mega Mart’s post-IPO market cap and the growth potential of India’s retail sector make this IPO even more promising.
If you want to apply in retail or NII category, then take the decision keeping in mind your investment goals and risk factors. Always read the Red Herring Prospectus in detail.
If you have any more questions related to IPO, please ask in the comment section below!