After a lacklustre week for IPOs finally, in the second week there’ll be two IPO offerings, one of which is Vishal Mega Mart IPO. The issue launches on December 11 and closes on December 13. The company aims to raise Rs 8,000 crore by dumping promoters’ and other selling shareholders’ 102.56 crore shares. The company’s IPO price band ranges between Rs 74 to Rs 78 per equity share.
Vishal Mega Mart IPO GMP
The stocks of the company were trading at a premium of Rs 13 to the issue price in the grey market. This indicates a positive listing for the stock on the bourses. The grey market is an unofficial place to trade shares ahead of listing.
Vishal Mega Mart IPO allotment and listing
The allotment of shares of Vishal Mega Mart IPO is expected to be finalised on December 16. Meanwhile, the listing on the bourses – NSE and BSE – on December 18, as per the tentative plan.
About Vishal Mega Mart
Vishal Mega Mart is a hypermarket chain that sells a wide range of products like apparel, groceries, electronics, and home essentials. They own their brands and third-party brands to meet the everyday needs of consumers. The company offers a wide range of products across apparel, general merchandise, and FMCG, including its brands for clothing, home furnishings, travel accessories, kitchen appliances, food, non-food items, and staples.
Minimum investment required
A retail buyer needs to apply for a minimum of 190 shares in a lot which amounts to Rs 14,820. There are different lot sizes for small and big NIIs. A small NII can apply for a minimum of 2,660 shares amounting to Rs 2,07,480 and a big NII 12,920 shares which totals Rs 10,07,760.
Lead managers and registrar
Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J.P. Morgan India, and Morgan Stanley India Company are the book-running lead managers of the IPO, while Kfin Technologies is the registrar for the issue.