Vishal Mega Mart IPO Day 3 Live Updates: The initial share offering of supermarket chain Vishal Mega Mart, valued at ₹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.
Vishal Mega Mart IPO Day 3 Live: Check out GMP ahead of Day 3
Vishal Mega Mart IPO GMP today is +16. This indicates Vishal Mega Mart share price was trading at a premium of ₹16 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vishal Mega Mart share price is indicated at ₹94 apiece, which is 20.51% higher than the IPO price of ₹78.
Based on the grey market trends from the last nine sessions, today’s IPO GMP is on the rise and suggests a tepid listing. The lowest GMP recorded is ₹13, whereas the highest reaches ₹25, as noted by experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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