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Vishal Mega Mart makes strong debut As on : 18-Dec-24  10:29

The scrip was listed at Rs 110, exhibiting a premium of 41.03% to the issue price.

So far, the stock has hit a high of 110.95 and a low of 104.92. On the BSE, over 395.28 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Vishal Mega Mart received was subscribed 27.28 times. The issue opened for bidding on Wednesday (11 December 2024) and it closed on Friday (13 December 2024). The price band of the IPO was fixed between Rs 74 and 78 per share.

The IPO consisted of an offer-for-sale (OFS) of Rs 8,000 crore. The proposed offer is entirely an OFS of shares by promoter Samayat Services LLP, with no fresh issue of equity shares.

Since the IPO is entirely an OFS, the company will not receive any funds from the issue, and the proceeds will go to the selling shareholder.

Ahead of the IPO, Vishal Mega Mart on Tuesday, 10 December 2024, raised Rs 30.76 lakh from anchor investors. The board allotted 2399.99 crore shares at Rs 78 each to 89 anchor investors.

Vishal Mega Mart (VMM) is a one-stop destination catering to middle- and lower-middle-income consumers in India. The company offers a diverse range of merchandise through its brands and third-party brands, addressing both aspirational and everyday needs.

VMM engages in the business of wholesale, cash, and carry trading under the 'Vishal' brand and grants franchise rights for Vishal Mega Mart franchise stores. VMM operates retail stores through its wholly owned subsidiary, Airplaza Retail Holdings (ARHPL).

The firm reported a consolidated net profit of Rs 254.14 crore and sales of Rs 5,032.51 crore for the six months ended on 30 June 2024.

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