Vishal Mega Mart IPO Day 3 Live Updates: Issue booked 1.54x so far led by NII, retail investors. Check GMP, review, more
₹8,000 crore, achieved full subscription on the second day of bidding on Thursday, concluding with a subscription rate of 1.54 times. The segment allocated for non-institutional investors (NIIs) saw a subscription rate of 3.84 times, while Retail Individual Investors (RIIs) subscribed at 1.16 times. The portion designated for Qualified Institutional Buyers (QIBs) received a subscription of 48 percent.
On the first day of bidding, the subscription status for the Vishal Mega Mart IPO was at 51%, according to BSE data. Although the IPO embarked on its journey in a dynamic market, the allocation for NIIs was fully subscribed. On Tuesday, Vishal Mega Mart announced that it raised ₹2,400 crore from anchor investors.Vishal Mega Mart IPO price band has been established between ₹74 and ₹78 per equity share.
The IPO consists entirely of an offer for sale (OFS) amounting to ₹8,000 crore from Samayat Services LLP, the promoter that holds a 96.46 percent stake in Vishal Mega Mart. If the shares are priced at the upper limit of ₹78, the company is projected to have a market valuation of approximately ₹36,120 crore.Launched in 2018, Vishal Mega Mart functions as a hypermarket chain offering a diverse array of products, including clothing, foodstuffs, electronics, and household items.The firm has shown strong revenue growth, driven by a focus on operational efficiency and cost management. Revenue from operations increased at a compound annual growth rate (CAGR) of 26.3%, rising from Rs.
5,589 crore in FY22 to Rs. 8,912 crore in FY24. Operating EBITDA grew at a CAGR of 24.6%, from Rs.
804 crore in FY22 to Rs. 1,249 crore in FY24. Meanwhile, Profit After Tax (PAT) surged at a CAGR of 50.9%, reaching Rs.
Read more on livemint.com
