Vishal Mega Mart IPO aims to raise a sum of Rs 8,000 crore by offloading 102.56 crore shares of promoters and other selling shareholders. The company’s IPO price band ranges between Rs 74 to Rs 78 per equity share.
Vishal Mega Mart IPO GMP
The company’s shares in the grey market are fetching a premium of 32%, a rise of 8 percentage points in the last three days. This indicates a strong listing of shares on the stock exchanges. The grey market is an irregulated place where shares change hands ahead of listing.
Vishal Mega Mart IPO Review
“If FY25 annualized earnings are attributed to its post-IPO fully diluted paid-up equity capital, the asking price corresponds to a P/E of 69.03. Based on FY24 earnings, the P/E stands at 75.73, indicating that the issue is aggressively priced,” said Bajaj Broking in an IPO note.
Vishal Mega Mart IPO Details
The IPO opens on December 11 and closes on December 13. The allotment of shares is likely to be finalised on December 16 by the registrar. The listing on the bourses – NSE and BSE – is expected to be on December 18. A retail buyer can apply for as minimum as 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 bid for at least 2,660 shares amounting to Rs 2,07,480 and a big NII 12,920 shares which totals Rs 10,07,760.
Financial performance of Vishal Mega Mart
In terms of financial performance, for the past three fiscal years, the company reported a net profit of Rs 202.77 crore in FY22, Rs 321.27 crore in FY23, and 461.94 crore in FY24. The company’s total income stands at Rs 5,653.85 crore for FY22, Rs 7,618.89 crore in FY23, and Rs 8,945.13 crore in FY24.
Lead managers of PO
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.