Vishal Mega Mart IPO concludes with 27x subscription, QIBs bid 80.75 times; check latest GMP

Vishal Mega Mart IPO continues to garner robust bids on the concluding of the 3-day share sale after closing the day 2 at 1.53x.

Vishal Mega Mart IPO continues to garner robust bids on the concluding of the 3-day share sale after closing the day 2 at 1.53x.

On day 3 of subscription, the Rs 8,000 crore initial share sale of supermarket chain Vishal Mega Mart got subscribed 27.28 times on Friday.

The three-day initial public offer (IPO) got bids for 2,064 crore shares against 75.67 crore shares on offer, according to data available with the NSE.

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The portion for non-institutional investors attracted 14.24 times subscription while the share of Retail Individual Investors (RIIs) got subscribed 2.31 times. The category for Qualified Institutional Buyers (QIBs) received 80.75 times subscription.

Earlier, it mopped up Rs 2,400-crore from anchor investors. Shares are available in the price range of Rs 74-78 apiece.

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According to market observers, the shares of Vishal Mega Mart are commanding a GMP of 17 percent. Investorgain quoted a GMP of Rs 13 for the shares of the company in the unofficial market, indicating a listing gain of 16.67 percent.

Shares of the company will be listed on the BSE and the NSE on December 18, while the allotment is likely to take place on December 16.

As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website. It's product range includes both in-house and third-party brands, covering three key categories -- apparel, general merchandise, and fast-moving consumer goods.

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