Since the eagerly awaited Initial Public Offering (IPO) of Vishal Mega Mart, a market leader in the hypermarket retail chain, has started to create a strong investor response, it has been considered a positive sentiment for Indian retailers.
This IPO, which was on offer for subscription from 11 December 2024 to 13 December 2024, is one of the biggest offerings available during the year. Considering the anticipated end of the number of shares issued on December 16, 2024, the buzz around the IPO is irresistible. Investors are now contemplating their allocation and the future listing on December 18, 2024.
Vishal Mega Mart IPO Details
The IPO of Vishal Mega Mart was a simple Offer for Sale (OFS) issue of 102.56 crore equity shares for a face value of ₹8,000 crore. A compromise between the application price band of 74 to 78 with a minimum lot size of 190 shares was described during bidding.
As of the end of the subscription period, the IPO showed 28.75 times oversubscription which reflects broad investor interest. Retail investors subscribed 2.43 times to their allotted allocation, whereas Non-Institutional Investors (NIIs) subscribed 15.01 times to their assigned allocation. The most substantial demand came from Qualified Institutional Buyers (QIBs), who subscribed to a staggering 85.11 times their quota.
There are plans to resolve the problem of share allotments which are set to be final today, 16 December 2024, and investors of the allotted shares, who are allotment successful, will see the allotment reflected in their demat accounts on 17 December 2024. These shares are to be publicly listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 18 December 2024.
How to Check Vishal Mega Mart IPO Allotment Status
For transparency, investors now can check their IPO allotment status on NSE, BSE, and IPO registrar KFin Technologies.
[For the performance of NSE verification], go to the IPO bid verification page on the NSE website. If you’re a new user, you’ll need to register first. On successful login, select “Vishal Mega Mart” from the menu of choices, enter your application number, and click “Get Data” to view the allotment details.
In addition, the BSE website allows the investor to verify their allotment status by going to “Equity” in the Issue Type menu, selecting “Vishal Mega Mart Limited” in the Menu, and using Application/PAN. After the verification of CAPTCHA, click on “Search,” so as to see the information of your status.
The whole process for KFin Technologies’ clients is as simple as pie by the IPO registrar, too. Visit their website, click on the IPO “Vishal Mega Mart Limited”, and enter details such as Application No., Demat Account, or PAN. Enter the Captcha code and submit the form to obtain your allocation results.
Vishal Mega Mart’s Business Overview
[1] Genesis of 2001, Vishal Mega Mart, is a house-run brand within the hypermarket category and caters primarily to middle- and low-middle goods and services of the income ladder. One specialty of the company, having provided the product range, from garments and groceries to electronic and household goods, either in-house or under other names, is described in this study.
Because of its vast store network of 645 stores across 414 cities in 28 states and 2 union territories, the geographic spread of Vishal Mega Mart is complemented by its e-commerce platform and its mobile application. The business strategy is to provide good quality products at a cheap price expand be marketed to consumers.
IPO Utilization and Future Prospects
It is further stated that the Vishal Mega Mart IPO (Offer for Sale) is not linked with any fund sharing to Vishal Mega Mart Limited. On the other hand, the proceeds will be paid to the Promoter Selling Shareholder, after deducting the offer charges and taxes.
Thanks to a great business model, the breadth of the company, and its strong customer base, the company is a very successful investment prospect. The solid subscription numbers and high demand from institutional investors reflect an interest in the future of the company’s growth.
What’s Next?
The allotment status is now complete today and shares are credited with a timeline that will see them listed on the exchange as of December 17,0 2024, and all eyes now look to the same day, December 18,0 2024, as Vishal Mega Mart goes “live” in the stock plutosphere. Investors should mentally prepare for a far from serene trading day on the day the company is in the public domain.
If you’ve submitted the IPO application, please see to it you’ve checked your allotment status today and be ready for a fantastic listing day. The initial public offering (IPO) of Vishal Mega Mart on a stock market is a key event, that not only impacts the company itself but also its existing shareholders. Tune in for the news as the trading day begins!
Also, see: MobiKwik IPO Allotment Status On BSE And NSE: Everything You Need to Know