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The ₹8,000 crore IPO was entirely an Offer For Sale (OFS), which meant that the company did not receive any proceeds from the issue.
Vishal Mega Mart ended up getting bids for 2,064 crore shares compared to the 75.67 crore shares that were on offer. The issue was subscribed 27.28 times.
Investors ended up placing bids worth ₹1.6 lakh crore for Vishal Mega Mart’s IPO, compared to the ₹8,000 crore issue.
Qualified Institutional Buyers (QIBs) led the demand, subscribing 80.75 times the number of shares reserved for them. The portion reserved for non-institutional investors (NIIs) was subscribed 14.24 times, while the retail investor portion was subscribed only 2.31 times.
Vishal Mega Mart announced the allotment of its equity shares post the IPO on Tuesday. You can read more on that here.
As per reports, the Grey Market Premium (GMP) for Vishal Mega Mart remains at ₹19 per share, which implies a potential listing price of ₹98. This is a 25% premium to the upper end of the IPO price of ₹78 per share.
Investors are advised to exercise caution, as the GMP is speculative and does not represent the official listing price of the stock.
