Fri Dec 13 05:34:50 UTC 2024: ## Vishal Mega Mart IPO Opens, Attracts Cautious Interest
**Mumbai, December 11, 2024** – Vishal Mega Mart Limited’s Initial Public Offering (IPO) opened today, offering 102.56 crore equity shares priced between ₹74 and ₹78 per share. The offer, entirely an Offer For Sale (OFS), will remain open until December 13th. A single lot consists of 190 shares, with the upper end of the price band resulting in an issue size of ₹8,000 crore.
Early subscription figures are low, with only 0.13% subscribed within two hours of opening. Retail investors showed slightly higher interest at 0.19% subscription, while Non-Institutional Investors (NIIs) reached 0.18%.
The Grey Market Premium (GMP) currently stands at ₹20, down from ₹26 yesterday. This suggests a potential listing price of ₹98, a 25.64% premium over the upper end of the IPO price. The company has already raised ₹2,400 crore from anchor investors, including prominent mutual funds and government entities.
Brokerage firms offer varying advice. Master Capital Services and Bajaj Broking recommend subscribing for long-term gains, highlighting Vishal Mega Mart’s strong presence in the mid- and lower-income consumer market and expansion plans. Choice Broking Research echoes this sentiment, emphasizing the company’s diverse product offerings and strong brand recognition. However, the muted initial response warrants caution.
First Piper 