Latest News | Vishal Mega Mart IPO Gets Subscribed 51 Pc on Day 1 of Offer
Get latest articles and stories on Latest News at LatestLY. The initial public offering (IPO) of supermarket chain Vishal Mega Mart received 51 per cent subscription on the first day of the share sale on Wednesday.
New Delhi, Dec 11 (PTI) The initial public offering (IPO) of supermarket chain Vishal Mega Mart received 51 per cent subscription on the first day of the share sale on Wednesday.
The initial share sale received bids for 38.59 crore shares against 75.67 crore shares on offer, as per NSE data.
The portion for non-institutional investors (NIIs) fetched 1.11 times subscription, while the category for retail individual investors (RIIs) got subscribed 53 per cent.
The qualified institutional buyers (QIBs) part received a mere 3 per cent subscription.
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Vishal Mega Mart on Tuesday said it has mopped up Rs 2,400-crore from anchor investors.
The Rs 8,000-crore IPO of Vishal Mega Mart will end on December 13. Shares are available in the price range of Rs 74-78 apiece.
The IPO is entirely an offer-for-sale (OFS) of shares by promoter Kedaara Capital-led Samayat Services LLP, Samayat Services LLP, with no fresh issue of equity shares.
At present, Samayat Services LLP holds a 96.55 per cent stake in the Gurugram-based supermart major.
Vishal Mega Mart's product range includes both in-house and third-party brands, covering three key categories -- apparel, general merchandise, and fast-moving consumer goods.
As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website.
Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, J P Morgan India, Morgan Stanley India Company are the book-running lead managers for the issue.
The shares of the company will be listed on the BSE and the NSE.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)