Mon Dec 09 12:11:24 UTC 2024: ## Vishal Mega Mart IPO Opens for Bidding with Strong Grey Market Premium

**Mumbai, Dec. 9, 2023** – Vishal Mega Mart Ltd.’s highly anticipated initial public offering (IPO) is set to open for bidding on December 11th and close on December 13th. The IPO, an entirely offer-for-sale of 102.56 crore shares valued at ₹8,000 crore, has already generated significant buzz in the unlisted market.

A strong grey market premium (GMP) of ₹24 per share, representing a 30.77% premium over the upper price band of ₹78, indicates positive investor sentiment. This suggests a potential listing price around ₹102 per share, though the GMP is purely speculative and not an official price indicator. Since trading began on December 5th, the GMP has risen from ₹13.50 to the current ₹24.

The IPO price band is set at ₹74-₹78 per share, requiring a minimum investment of ₹14,820 (190 shares). Share allotment is expected on December 16th, with shares expected to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 18th.

Vishal Mega Mart, a pan-India hypermarket chain with 645 stores across 28 states and two union territories, targets middle and lower-middle-income consumers, offering a wide range of products including apparel, electronics, groceries, and home essentials. The company will not receive any proceeds from the IPO as it is an offer-for-sale.

Several prominent investment banks, including Kotak Mahindra Capital Company Ltd., ICICI Securities Ltd., and others, are acting as book-running lead managers for the IPO, with KFin Technologies Ltd. serving as the registrar.

**Disclaimer:** Investing in IPOs carries inherent market risks. Potential investors are urged to consult with financial advisors and carefully review the red herring prospectus before making any investment decisions.

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