Did you receive shares in the Vishal Mega Mart IPO? GMP is soaring ahead of listing. Verify the status online.
A day before its offering, vishal Mega Mart's grey market premium (GMP) jumped after the IPO allocation was completed yesterday evening.
Following high investor demand that resulted in bids of Rs 1.61 lakh crore for the public offering, the shares of the hypermarket chain are scheduled to list on the NSE and BSE on december 18. KFin Technologies Ltd., the official registrar, completed the share allocation.Vishal Mega Mart shares are seeing a lot of action on the grey market with the listing only a day away. Strong market emotion surrounding the IPO is indicated by the stock's GMP, which has risen to above 25 percent. An informal predictor of the stock's potential performance upon listing is the grey market premium.
How to check the vishal Mega Mart IPO allotment status online Investors can visit the official websites of the BSE, NSE, and registrar KFin Technologies to verify their allotment status. For information, read the entire story.GMP trend for vishal Mega Mart's IPO
Investorgain and IPO Watch, who monitor premium movements in the grey market, report that vishal Mega Mart shares now have a GMP of 25 percent. This implies that the stock might list for Rs 19–20 more than its IPO price. The IPO's price range was Rs 74–78 per share, with the upper end of Rs 78 being allocated.
The current GMP is lower than the 35 percent levels recorded prior to the IPO opening for subscriptions, but it is higher than the 20 percent recorded last week.Vishal Mega Mart, a chain of 645 stores throughout India, saw 27 times oversubscription for its Rs 8,000-crore public offering. Out of the 75.67 crore shares available, investors bid for 2,064 crore shares.
The growth plan of vishal Mega Mart in the data-face of competition
In India's $600 billion grocery and supermarket sector, vishal Mega Mart, which is well-known for its inexpensive products including groceries and clothing starting at Rs 99, data-faces out against retail chains like DMart and Tata Group's Star Bazaar.Vishal Mega Mart, on the other hand, is comparatively unaffected by the rise of quick-commerce businesses and excessive inflation, while its competitors encounter difficulties. Seventy percent of its stores are in smaller locations where quick-commerce is still in its infancy, according to analysts quoted by Reuters.