Vishal Mega Mart IPO: The initial public offering (IPO) of Vishal Mega Mart Limited opened on 11th December 2024 and will remain open until 13th December 2024. This means investors have one day to apply for the public issue. The company has fixed the Vishal Mega Mart IPO price band at ₹74 to ₹78 per equity share. The hypermarket company aims to raise ₹8,000 crore, which is entirely an offer for sale (OFS). Shares of the company are available in the grey market. According to stock market observers, Vishal Mega Mart’s share price is at a premium of ₹22 in the grey market today.
Vishal Mega Mart IPO GMP today
As mentioned above, Vishal Mega Mart’s IPO GMP (Grey Market Premium) today is ₹22, ₹5 higher than Vishal Mega Mart’s IPO GMP of ₹17 on Thursday. On Wednesday, Vishal Mega Mart’s IPO grey market premium was ₹17. So, after two days of bidding, Vishal Mega Mart’s IPO GMP rose from ₹17 to ₹22, which is a good sign as the secondary market bias is still sideways. Market observers said grey market sentiments may improve more once there is a trend reversal on Dalal Street.
After two days of bidding, the public issue had been subscribed 1.54 times, the retail portion of the mainboard IPO had been booked 1.16 times, the NII segment was booked 3.84 times, and the QIB portion had been subscribed 0.48 times.
Vishal Mega Mart IPO review
Assigning a ‘subscribe’ tag for the long-term, Choice Broking says, “At the higher price range, VMM is demanding an EV/Sales multiple of 3.8x, which seems to be fully priced. However, the company has seen steady growth in its top and bottom lines because of increased stores and brand sales, positively impacting the margins. Over the years, the company has shown a good hold in its inventory and working capital management, which gives a long-term sustainable outlook. Thus, we recommend a “Subscribe For Long Term” rating for this issue.”
Ashika Research has also assigned a ‘buy’ tag to the mainboard IPO, saying, “In terms of the valuations, on the higher price band, VMML demands a P/E multiple of 69.2x post issue H1FY25 annualized EPS and an EV/EBITDA multiple of 28.1x. Hence, it is recommended that the issue be “SUBSCRIBE” from the long-term perspective.”
Besides, Arete Securities, AUM Capital, KR Choksey Securities, SBI Capital Securities, Sushil Finance, and Swastika Investmart have also assigned a ‘subscribe’ tag to this book build issue.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
