Vishal Mega Mart's IPO Frenzy: A Record-Breaking Subscription

Vishal Mega Mart's IPO witnessed an overwhelming 27.28 times subscription, with significant interest from institutional investors. The offer, which boasts a price range of Rs 74-78 per share, includes a complete offer-for-sale by the promoters and does not raise new equity.

Vishal Mega Mart's initial public offering has taken the stock market by storm, attracting 27.28 times the available subscriptions by its closure on Friday. This marked a phenomenal response, driven largely by Qualified Institutional Buyers (QIBs) who subscribed 80.75 times over their allocated shares.

The Rs 8,000 crore IPO has been priced between Rs 74 and Rs 78 per share, pursuing an exclusive offer-for-sale (OFS) strategy spearheaded by promoter Kedaara Capital-led Samayat Services LLP. Notably, the retail portion received 2.31 times subscription, showcasing broad-based investor interest.

Vishal Mega Mart has effectively cemented its stature in the retail sector, given its extensive network of 626 stores and a growing online presence. The company's stocks will soon feature on both the BSE and NSE, managed by prominent financial institutions like Kotak Mahindra and Jefferies India.

(With inputs from agencies.)