The highly anticipated Vishal Mega Mart IPO opened for subscription on December 11, 2024, and will remain available until December 13, 2024. The company aims to raise ₹8,000 crore through an offer for sale (OFS) with a price band set between ₹74 and ₹78 per share. As of 12:30 PM IST on December 11, the IPO has seen a total subscription of 0.18 times, with retail individual investors (RIIs) subscribing at 0.25 times and non-institutional investors (NIIs) at 0.26 times [1cb3a77c].
The Grey Market Premium (GMP) for the Vishal Mega Mart IPO is reported to be between ₹24 and ₹25, indicating a potential listing premium of approximately 31%. Analysts have noted that at the upper price band of ₹78, the company's FY24 price-to-earnings (P/E) multiple stands at 76.1x. Financially, Vishal Mega Mart has demonstrated robust growth, with revenue increasing at a compound annual growth rate (CAGR) of 26.3% from FY22 to FY24, while net profit has surged at a CAGR of 50.9% [1cb3a77c].
The company operates 645 stores across 414 cities, showcasing its extensive retail footprint in India. Given these promising financial indicators, analysts recommend subscribing to the IPO for long-term growth potential. The allotment date for shares is scheduled for December 16, 2024 [1cb3a77c].
In addition to Vishal Mega Mart, the IPO landscape is bustling with activity, as nine new IPOs are set to open for subscription this week, including MobiKwik and Sai Life Sciences. MobiKwik's IPO also opens on December 11, targeting ₹572 crore with a price band of ₹265 to ₹279 per share. This influx of IPOs reflects a vibrant market environment, with companies looking to capitalize on investor interest and raise funds for expansion and operational needs [69066a46].