Vishal Mega Mart will finalise the allotment of shares on December 16. The issue was booked to a total of 28.75 times. The retail portion was booked 2.43 times and the NII category 15 times. The subscription was led by the QIBs, 85.11 times. The company opened the IPO bidding on December 11 and closed the subscription on December 13. Here’s a guide to check the allotment status online on Kfin Technologies:

Step 1 

Go to the website of the registrar. Here, Kfin Technologies is working as the registrar.

Step 2

Now, hover over the ‘Products’ button and wait for a drop-down. After that, click the IPO allotment status in the ‘investors’ section. 

Step 3

Choose any one link from the provided five links.

Step 4 

Fill in your details: company’s name, account number/ D’mat account/ PAN number, and captcha number

Step 5

Hit the submit button and a screen will appear with the status of allotment. 

Listing

The listing of the company is expected to take place on December 18 on the NSE and BSE mainboard segments, as per the tentative schedule. 

Vishal Mega Mart IPO Details

The company opened the IPO to raise Rs 8,000 crore from investors by offering them 102.56 crore promoters and selling shareholders’ shares. The company kept the IPO price band in a range of Rs 74 to Rs 78 per equity share. Vishal Mega Mart is a large retail chain that offers a diverse selection of items, including clothing, food, electronic devices, and household necessities. They possess their brands as well as third-party brands to fulfil the daily requirements of consumers.

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Vishal Mega Mart IPO review

“Vishal Mega Mart, the 2nd largest offline-first diversified retailer, is well placed to capitalize on the growing middle-class population in India. Extensive expansion plans along with a focus on diversification, high-margin products and operating leverage are likely to bolster revenue growth.  At Rs 78, the issue is priced at 76x FY24 P/E and looks reasonable compared to other listed peers. We recommend investors to ‘Subscribe’ to the issue,” said Motilal Oswal Financial Services in an IPO note.

Minimum Investment

The minimum investment for a retail application was at least one lot of 190 shares, amounting to Rs 14,820. The minimum lot size investment for small NIIs was 14 lots of 2,660 shares and for big NIIs, it was 68 lots of 12,920 shares.

Lead Managers 

Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India Company were the lead managers of the IPO.