Vishal Mega Mart IPO Opens Today, All You Need To Know
The initial public offering (IPO) of Vishal Mega Mart opened for bidding today and is receiving decent response from investors. As of 11:27 AM, Non Institutional Investors (NII) subscribed the shares by 0.15 times whereas for Retail Individual Investors (RIIs), the lot was oversubscribed by 0.16 times.
Vishal Mega Mart IPO Opens Today, All You Need To Know
The initial public offering (IPO) of Vishal Mega Mart opened for bidding today and is receiving decent response from investors. As of 11:27 AM, Non Institutional Investors (NII) subscribed the shares by 0.15 times whereas for Retail Individual Investors (RIIs), the lot was oversubscribed by 0.16 times. NIIs placed bids for 2,46,39,580 shares, while RIIs placed bids for 6,15,03,570 shares.
Funds raised via IPO
Vishal Mega Mart IPO is a complete offer for sale (OFS) totalling 1,025,641,025 shares. Price band has been fixed between ₹74-78 per apiece wherein the company is expected to raise ₹8,000 crore. As the subscription window will close on December 13 (Friday), bidders can apply for the IPO with a lot size of 190 shares or in multiples thereof. Retail investors are mandated to place bids for a minimum price of ₹14,820 per lot. They can place bids up to for up to 13 lots which totals to ₹2,00,000.
About the company
Founded in 2001, Vishal Mega Mart is an Indian retail chain that offers a wide range of products ranging across categories including fashion, household essentials, groceries, and general merchandise.
