Vishal Mega Mart Shares Close At 43% Premium Over Listing Price
The Vishal Mega Mart IPO closed on Dec. 13, receiving strong demand with a 27.28 times subscription on the final day after being fully subscribed by the second day.
Share price of Vishal Mega Mart Ltd. closed at Rs 111.95, a 43.5% premium on the BSE. It closed at Rs 111.88 on the National Stock Exchange, marking a premium of 43.4%.
The scrip listed on the BSE at Rs 110 apiece, a premium of 41.03% over the issue price of Rs 78 apiece. It listed at Rs 104 per share on the NSE, a premium of 33.33%.
The Vishal Mega Mart IPO opened for bidding on Dec. 11, aiming to raise Rs 8,000 crore through an offer-for-sale entirely offloaded by promoter Samayat Services LLP. The issue closed on Dec. 13, receiving strong demand with a 27.28 times subscription on the final day after being fully subscribed by the second day, led by non-institutional investors.
The IPO was priced in the range of Rs 74 to Rs 78 per share, valuing the company at Rs 35,168 crore at the upper end. Prior to the public offering, the company secured nearly Rs 2,400 crore from anchor investors.
Vishal Mega Mart, a fashion-driven hypermarket chain backed by Kedaara Capital and Partners Group, operates a pan-India network offering apparel, general merchandise, and FMCG products.
It also serves customers through its mobile app and website, catering primarily to middle and lower-middle-income households. The company’s portfolio includes its own brands and employs a hub-and-spoke distribution model to streamline inventory management.
In the first half of the current fiscal, Vishal Mega Mart's revenue rose 19% to Rs 5,033 crore, while operating income increased 17% year-on-year to Rs 668 crore, with a margin contraction of 26 basis points to 13.27%. Net profit surged 30% to Rs 254 crore.
