After successfully raising Rs 2,400 crore from institutional investors, Vishal Mega Mart's IPO moves into its second day of bidding with a fully subscribed allocation for non-institutional investors. Despite a dynamic market environment, the hypermarket chain's IPO has generated significant interest with a minimum lot size of 190 shares for retail investors. The bidding window will close on Friday, December 13, with a price band of Rs 74-78 per equity share.
Indian hypermarket chain Vishal Mega Mart is targeting a wide range of customers with its affordable products and a strong online presence, reporting a CAGR growth in revenue, EBITDA, and PAT. The company's IPO is an offer-for-sale, with the aim to raise Rs 8,000 crore for its promoter Samayat Services. While brokerage firms such as SBI Securities recommend subscribing to the issue, Swastika Investmart cautions high-risk investors to bid with caution.