Allotment final today, excitement among investors before listing

Vishal Mega Mart IPO: The share allotment of the ₹8,000 crore IPO of hypermarket chain Vishal Mega Mart is going to be finalized today. Despite the initial slow pace, this IPO was subscribed 28.75 times, which shows the increasing interest of investors. Now investors are eyeing listing gains.

GMP (Grey Market Premium) before listing

The gray market premium (GMP) of Vishal Mega Mart shares is currently at ₹20.50, which represents a listing gain of about 26% over the issue price in the price band of ₹74-₹78. However, experts believe that the actual listing of the shares will depend on the market condition and the performance of the company.

How to check allotment status?

Step-by-step process on BSE website:

1. Go to BSE link
2. in issue type Equity Select.
3. in issue name Vishal Mega Mart Select.
4. Enter application number or PAN details.
5. Click on “I’m not a robot” and search.
6. Your allotment status will appear on the screen.

Step-by-step process on Kfintech’s website:

1. Visit KFintech’s website,
2. Click on any of the links 1, 2, 3, 4 or 5.
3. Select IPO and Vishal Mega Mart Select.
4. Choose from Application Number, Demat Account, or PAN.
5. Fill the details and submit.
6. Your allotment status will appear on the screen.

Investors’ reaction to IPO

Vishal Mega Mart’s IPO gets overwhelming response in three days:

1. Qualified Institutional Buyers (QIBs): 85.11 times subscription
2. Non-Institutional Investors (NIIs): 15.01 times subscription
3. Retail Investors: 2.43 times subscription

This IPO is completely an Offer for Sale (OFS), under which 1,02,56,41,025 shares of the company with face value of Rs 10 were offered for sale.

About Vishal Mega Mart

• Year established: 2001
• Major Products: Clothing, grocery, electronics and daily necessities
• Network: 645 stores (414 cities, 28 states and 2 union territories)
• Business Model: asset-lite (Stores and distribution centers are on lease)

financial performance

Vishal Mega Mart’s financial position continues to strengthen:

• FY22 Net Profit: ₹202.77 crore
• FY23 Net Profit: ₹321.27 crore
• FY24 Net Profit: ₹461.94 crore
• FY24 H1 (April-September): Profit of ₹254.14 crore and Revenue of ₹5,053.42 crore

Revenue CAGR: Growing at over 25% to reach ₹8,945.13 crore in FY24.

listing date

Shares of Vishal Mega Mart will be listed on BSE and NSE on 18 December 2024.