Vishal Mega Mart IPO Final Day: Issue sees over 10 times subscription so far; QIB, HNI lead

On December 13, 2024, last day of the bidding process of Vishal Mega Mart Ltd (VMML) IPO received a bid for 7,57,28,45,960 shares or 10.01 times against 75,67,56,757 shares until 2:27 pm, according to the exchanges. VMML has launched the IPO with a price band between Rs 74 and Rs 78 per share to raise Rs 8,000 crore through an offer-for-sale (OFS). Ahead of the opening share sale window, the hyperchain market company has mobilised Rs 2,400 crore from anchor investors, according to a filing on the exchanges.

Category-wise, Qualified Institutional Buyers (QIBs) emerged as the top bidders, surpassing Non-Institutional Investors (NIIs), also known as HNIs. Notably, High Net Worth Individuals (HNIs) led the charge in the initial two-day bidding process. Here's a breakdown of the interest shown by NIIs, Retail Individual Investors (RIIs), and QIBs in the three-day sale:

As of now, QIBs, NIIs, and Retailer categories have applied for 5,00,36,40,120 shares, 1,84,78,45,190 shares, and 72,13,60,650 shares, respectively.

The portion reserved for them is as follows:

• QIBs: 21,62,16,215
• NIIs: 16,21,62,163
• Retailers: 37,83,78,379

The IPO does not comprise allocation reserved for the Employees and Shareholder categories.

Here is a summary of the first two days bidding sale:

Second-day, December 12, 2024

• Non-Institutional Investors (NIIs): Oversubscribed 3.84 times or 62,31,20,010 shares against 16,21,62,163 shares reserved for them
• Retail Individual Investors (RIIs): Subscribed 1.16 times or 43,97,79,130 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 10,32,05,720 shares against 21,62,16,215 shares

First-day, December 11, 2024

On the first day of the bidding process, the issue subscribed 38,63,32,890 shares, accounting for 51 per cent of the total issue size.

• Non-Institutional Investors (NIIs): Oversubscribed to 111 per cent or 18,04,13,740 shares against 16,21,62,163 shares reserved for them
• Retail Individual Investors (RIIs): Subscribed 53 per cent or 19,96,23,880 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 62,95,270 shares against 21,62,16,215 shares

Vishal Mega Mart IPO | Lot size, 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. The lot size of the IPO is 190 shares.

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.