Vishal Mega Mart's initial public offering drew bids worth $19 billion on Friday as institutional investors piled in, underscoring confidence in the budget retailer's growth prospects and its resilience amid a quick-commerce boom.

Vishal Mega Mart IPO, which opened for public subscription on Wednesday, December 11, 2024, is set to close today

Vishal Mega Mart's IPO price band is Rs 74-78, while Inventurus Knowledge Solutions' price band is Rs 1265-1329.

(Reuters) -Indian budget retailer Vishal Mega Mart's 80-billion-rupee ($943 million) initial public offering (IPO) was fully subscribed on day two of bids, led by demand from non-institutional investors.

Vishal Mega Mart Ltd.’s $944 million initial public offering was fully sold on the second day of the sale, driven by strong demand from high-networth and retail investors.

The initial public offering (IPO) of Vishal Mega Mart, a supermarket chain operator, is scheduled to open for subscription on December 11 and close on December 13. The IPO seeks to raise Rs 8,000 crore through an offer for sale (OFS) process.

Vishal Mega Mart's IPO was oversubscribed by 27.28 times, with strong demand from QIBs and non-institutional investors. The IPO, priced at Rs 74-78, is entirely an offer-for-sale of shares by promoter Kedaara Capital.