Vishal Mega Mart's Rs 8,000-cr IPO sees consistent rise in GMP as subscription begins this week

Vishal Mega Mart IPO sees consistent rise in GMP as subscription begins this week

Vishal Mega Mart IPO (initial public offer) is set to open for public subscription in the primary market on December 11.

Kedaara Capital-backed Vishal Mega Mart has fixed a price band of Rs 74-78 per equity share for its Rs 8,000 crore initial share sale, which will conclude on December 13. The bidding for anchor investors will open for a day on December 10

Meanwhile, the shares of the company are commanding a GMP of about 30 percent today ahead of the share sale. According to Investorgain, which track the grey market premium activities, the shares are trading at a premium of Rs 24 over the IPO price, translating to a listing gain of 30.77 percent. Until last week, the shares were commanding a GMP of around 21 percent.

Big week ahead for IPO with 11 public issues set to open for subscription, including Mobikwik, Vishal Mega Mart, IGI

The share allotment is expected on December 16, with the listing scheduled for December 18.

Vishal Mega Mart (VMM) serves as a one-stop destination for middle- and lower-middle-income consumers across India.

Its product portfolio includes a mix of in-house and third-party brands, spanning three primary categories: apparel, general merchandise, and fast-moving consumer goods (FMCG).

VMM is one of India's leading retail players, achieving Rs 8,900 crore in revenues in FY24. The company has 645 stores with 11.5 million retail square feet across 414 cities in 30 states and union territories.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.