The Vishal Mega Mart IPO was established in December 2024 as India’s biggest retail offering. Vishal Mega Mart made an entry into the stock market with high investment interest in late 2024. The IPO increased Rs 8000 Crore via an offer for sale, targeting middle-income shoppers nationally. In 2025, the stock showed fast growth in the post-listing on the BSE and NSE. In this blog, we are going to cover everything about Vishal Mega Mart IPO, market lot size, IPO reservations, financials, strengths and risks, and much more.
What is Vishal Mega Mart IPO?
If we want to know about the Vishal Mega Mart IPO, then it was a book-building mainboard issue of 102.56 crore shares till Rs 8000 crore. The IPO opened on 11 December 2024 and closed on 13 December 2024, with the allotment on 16 December. There was no new capital boost, and the procedure went to the sale of shareholders.
The price is set to Rs 74 to Rs 78 each share of the face value of Rs 10. Bookrunners are kotak Mahindra Capital, Registrar are kfin Technologies. But the Anchor investors committed Rs 2400 Crore on 10 December.
Objectives of the vishal mega mart ipo
Given below are the objectives of vishal mega mart ipo, for you. Here are the details:
The IPO is supported by the promoters like Samayat Services LLP and Kedaara Capital. The company is receiving no proceeds funding covers the issue expenses, such as underwriting fees of Rs 165.20 Crore. Selling of the shareholders utilises funds post-taxes.
The exit permits partial liquidity for the investors since the year 2018. There are lock-in periods applying 30 days for 50% anchor shares till 14 January, 2025, as well as 90 days for the rest till 15 March.
Overview Table:
| Issue Open | Dec 11, 2024 |
| Issue Close | December 13, 2024 |
| Allotment | Dec 16, 2024 |
| Listing | Dec 18, 2024 (BSE/NSE) |
| Issue Size | Rs 8,000 Cr (OFS) |
| Price Band | Rs74-Rs78 |
| Final Price | Rs78 |
| Lot Size | 190 shares |
| Min Investment (Retail) | Rs14,820 |
About the Vishal Mega Mart
Vishal Mega Mart is a supermarket brand that offers products in categories like apparel, general merchandise and fast-moving consumer goods (FMCG). The products are accessible via its network of Vishal Mega Mart stores, phone applications and websites. Vishal Mega Mart was founded in the year 2018 by Mr Gunender Kapur under the parent organisation Vishal Mega Mart Ltd. Now, let’s get to know better in detail:
- Apparel Category: Shirts, t-shirts, denim, western wear, active wear and much more. Also, the clothes for men, women, children and adults.
- General Category: In-house products, utensils, home appliances, crockery, home furnishings, toys and footwear.
- FMCG Segment: Foods such as biscuits, tea, coffee, oils, butter, spices, and noodles. Also, non-food items like diapers, sanitary pads, handwash, and hair oils.
| Founded Year | 2018 |
| CEO | Mr Gunender Kapur |
| Parent organisation | Vishal Mega Mart Ltd |
Vishal Mega Mart IPO details
The listing gains reached 33% with NSE opening at Rs 104. In early 2025, prices ranged between Rs 104 to Rs 115, closing down around Rs 112. Given below are the details:
| IPO Date | December 11-13, 2024 |
| Listing Date | December 18, 2024 |
| Face Value | Rs10 |
| Issue Price | Rs78 |
| Lot Size | 190 shares |
| Total Shares | 102.56 Cr |
| Listing At | BSE (544307), NSE (VMM) |
| ISIN | INE01EA01019 |
Vishal Mega Mart Market Lot Size
Retail Minimum: 1 lot (190 shares) at Rs 14,820
Retail Maximum: 1 lot (2,470 shares) at Rs 1,92,660.
| Application | Lots | Shares | Amount |
| Retail Min | 1 | 190 | Rs14,820 |
| Retail Max | 13 | 2,470 | Rs1,92,660 |
| sNII Min | 14 | 2,660 | Rs 2,07,480 |
| sNII Max | 67 | 12,730 | Rs 9,92,940 |
| bNII Min | 68 | 12,920 | Rs 10,07,760 |
Vishal Mega Mart ipo reservations
| Category | % Allocation | Shares Offered |
| QIB (incl. Anchor) | 50% | 51.28 Cr |
| Anchor | 30% | 30.77 Cr |
| NII | 15% | 15.38 Cr |
| Retail | 35% | 35.90 Cr |
| Total | 100% | 102.56 Cr |
Vishal Mega Mart valuations
| Metric | Pre-IPO | Post-IPO |
| EPS (Rs) | 1.02 | 1.13 |
| P/E (x) | 76.13 | 69 |
| Promoter Holding | 96% | 76.02% |
Vishal Mega Mart Financials
| Period | Assets (Rs Cr) | Revenue (Rs Cr) | PAT (Rs Cr) | Net Worth (Rs Cr) |
| Sep 2024 | 9,552 | 5,053 | 254 | 5,924 |
| Mar 2024 | 8,506 | 8,945 | 462 | 5,647 |
| Mar 2023 | 8,289 | 7,619 | 321 | 5,181 |
| Mar 2022 | 8,218 | 5,654 | 203 | 4,850 |
How to check the Allotment status of the Vishal Mega Mart IPO?
Given below are the steps to check the allotment status of Vishal Mega Mart IPO. Let’s see the steps:
- Go to the official website of the IPO registrar
- Visit the IPO allotment status page.
- Choose the Vishal Mega Mart Ltds from the IPOs.
- Now fill in the information from any one of these, like PAN Number, Application number, DP.
- Then click on submit to view the allotment status.
Note: You can also check the allotment status of Vishal Mega Mart from the NSE and BSE.
Strengths and Risks: Vishal Mega Mart IPO
Here are some of the strengths and risks associated with vishal mega mart ipo for your better understanding:
| Category | Strengths | Risks |
| Business Model | Asset-light operations with leased stores and vendor sourcing, enabling a high ROCE of 68.76% and rapid scalability across 645 stores in 414 cities. | Heavy reliance on third-party vendors for manufacturing and supply exposes to disruptions in procurement or quality control. |
| Market Positioning | Targets underserved middle and lower-middle-income segments in Tier-2/3 cities with affordable own brands in apparel, FMCG, and essentials. | Intense competition from e-commerce giants, other retailers like D-Mart, and unorganised local stores is eroding market share. |
| Growth Trajectory | Strong financials with 17.41% revenue growth to ₹8,945 Cr and 43.78% PAT rise to ₹462 Cr in FY24; 6.77M app users for omni-channel delivery. | Macro sensitivity to inflation, rural slowdowns, or reduced discretionary spending impacting apparel and non-FMCG sales. |
| Operational Scale | Pan-India presence in 28 states; top offline-first diversified retailer with 16,537 employees and plans for 80-100 new stores yearly. | Inventory management challenges across diverse geographies, with risks of overstocking or stockouts affecting margins. |
| Financial Health | Low leverage (borrowings down to ₹133 Cr); PAT margin 5.18%, RoNW 8.18%; post-IPO P/E at 69.19x reflects growth premium. | Rich valuations (P/E ~69x) leave a limited safety margin if growth slows or execution falters post-listing. |
| Investor Appeal | High subscription (27.28x overall, QIBs 80.75x); 33% listing gains signal strong market confidence in the expansion story. | Regulatory exposure as a listed entity, including labour laws, taxation, and past probes; promoter lock-in ends in 2025, adding selling pressure. |
Conclusion
Vishal Mega Mart IPO gives you a large, fastest-growing value retailer to the public markets. The business approach integrates a light asset, private label, with powerful existence in non-metro markets into revenue growth, enhancing profits. The above-mentioned Vishal Mega Mart IPO details are given in detail for your better understanding.
Disclaimer: The above information is only for informational purposes, so not be regarded as financial, investment, or legal advice. The prices may change as per the market. Readers of this blog are advised to always consult a financial advisor before making any investment. The blog and author do not guarantee the accuracy.
