Vishal Mega Mart IPO Day 1: Issue subscribed over 50% so far; HNIs portion fully booked

A major supermarket chain Vishal Mega Mart's IPO has received a bid of nearly 50 per cent or 37,40,24,690 shares against 75,67,56,757 shares by 4:36 pm, on the first-day bidding process (December 11, 2024).

Category-wise, the Non Institutional Investors (NIIS), also known as HNIs, have applied for the highest numbers. Here's how NIIs, RIIs, and QIBs have shown interest so far on the first day of bidding until aforesaid time:

• Non-Institutional Investors (NIIs): Oversubscribed to 106 per cent or 17,21,64,130 shares against 16,21,62,163 shares reserved for them
• Retail Individual Investors (RIIs): Subscribed 52 per cent or 19,56,61,050 shares against 37,83,78,379 shares, allocated for the RIIs.
• Qualified Institutional Buyers (QIBs): With minimum participation, the QIBs portion received a bid for 61,99,510 shares against 21,62,16,215 shares

However, it does comprise a portion of the Shareholder and Employee categories.

The company is aiming to raise Rs 8,000 crore through an offer-for-sale (OFS). The price band by the company has been fixed between Rs 74 and Rs 78/share. Ahead of opening the IPO, Vishal Mega Mart has mobilised Rs 2,400 crore from anchor investors, according to a filing on the exchanges.

Vishal Mega Mart IPO | Issue size, price band, allotment & lot size

With the price band between Rs 74 and Rs 78/share, the company launched the IPO with an issue size of Rs 8,000 crore. The lot size of the IPO is 190 shares.

Vishal Mega Mart IPO | Allotment & listing dates

The allotment date is fixed on Monday, December 16 which means applicants can check their status on December 17. The Vishal Mega Mart stock will debut on Wednesday, December 18, 2024.

BRLMs & registrar

Book Running Lead Managers (BRLMs): Jefferies India, JPMorgan India, Morgan Stanley India, Kotak Mahindra Capital, ICICI Securities, and Intensive Fiscal Services.

Official Registrar: KFin Technologies.