Last Day of Vishal Mega Mart IPO: Issuance subscribed 27.28 times at close; QIB, HNI leads

On December 13, 2024, the last day and closing of the bidding process of Vishal Mega Mart Ltd (VMML) IPO received a bid of 20,64,25,23,020 shares or 27.28 times against 75,67 shares, 56,757, according to the exchange. VMML launched the IPO at a price band of between Rs 74 and Rs 78 per share to raise Rs 8,000 crore through an offer for sale (OFS). Ahead of the opening share sale window, the hyperchain marketplace company has raised Rs 2,400 crore from anchor investors, according to an exchange filing.

By category, Qualified Institutional Buyers (QIBs) emerged as the top bidders, overtaking Non-Institutional Investors (NIIs), also known as High Net Worth Individuals (HNIs). HNIs led the charge in the first two-day bidding process. Here is a breakdown of the interest shown by NIIs, Retail Individual Investors (RIIs), and QIBs in the three-day auction:

The share of QIBs, NIIs, and Retailers registered 80.75 times, 14.25 times, and 2.31 times respectively.

The portion reserved for them is as follows:

• QIBs: 21,62,16,215
• Policy number: 16,21,62,163
• Dealers: 37,83,78,379

The IPO does not include the share reserved for the Employees and Shareholders Sections.

Here is a summary of the first two days of bidding:

Day two, December 12, 2024

• Non Institutional Investors (NIIs): Oversubscribed 3.84 times or 62,31,20,010 shares as against 16,21,62,163 shares reserved for them
• Retail Individual Investors (RIIs): Subscribed 1.16 times or 43,97,79,130 ​​shares against 37,83,78,379 shares, reserved for RIIs
• Qualified Institutional Buyers (QIBs): In less participation, the QIBs segment received a bid of 10,32,05,720 shares against 21,62,16,215 shares.

First date, December 11, 2024

On the first day of the bidding process, the issue registered 38,63,32,890 shares, accounting for 51 percent of the total issue size.

• Non Institutional Investors (NIIs): Oversubscribed to 111 per cent or 18,04,13,740 shares as against 16,21,62,163 shares reserved for them
• Retail Individual Investors (RIIs): Subscribed 53 percent or 19,96,23,880 shares against 37,83,78,379 shares, reserved for RIIs.
• Qualified Institutional Buyers (QIBs): In less participation, the QIBs segment received a bid of 62,95,270 shares against 21,62,16,215 shares.

Vishal Mega Mart IPO | Lot size, allotment and listing dates

The offer date is fixed on Monday, December 16 which means applicants can check their status on December 17. The stock of Vishal Mega Mart will start trading on Wednesday, December 18, 2024. The IPO lot size is 190 shares.

BRLMs and registrars

Book Running Lead Managers (BRLMs): Jefferies India, JPMorgan India, Morgan Stanley India, Kotak Mahindra Capital, ICICI Securities, and Intensive Fiscal Services.

Official Registrar: KFin Technologies.