Vishal Mega Mart IPO: The initial public offering (IPO) of Vishal Mega Mart, which runs big shops for household goods, got 51 percent subscription on the first day of share sale on Wednesday. According to NSE data, the initial share sale received bids for 38.59 crore shares against the offer of 75.67 crore shares. The portion of non-institutional investors (NII) was subscribed 1.11 times. Whereas 53 percent subscription was received in the category of Retail Individual Investors (RII). Only three percent subscription was received in the qualified institutional buyers (QIB) category.
Raised Rs 2,400 crore from anchor investors
Vishal Mega Mart on Tuesday said it has raised Rs 2,400 crore from anchor investors. Vishal Mega Mart’s Rs 8,000 crore IPO will close on December 13. The price band for the IPO is Rs 74-78 per share. The IPO is entirely an offer for sale (OFS) of shares by promoter Kedar Capital led Samayat Services LLP. No new equity shares have been introduced in this. Currently, Samayat Services LLP holds 96.55 per cent stake in the Gurugram-based leading supermarket company. The company’s shares will be listed on BSE and NSE.
A significant jump in revenue
There has been a significant improvement in the revenue of Vishal Mega Mart with a CAGR of 26.98 percent between the financial year 2022 to 2024. Due to this, the revenue reached Rs 8,911.9 crore in FY 2024. The company’s revenue was Rs 5,588.5 crore in FY 2022.
(With inputs from PTI/Language)
