- December 18, 2024 09:53
Vishal Mega Mart live: Vishal Mega Mart surged 33.3% in pre-open debut trade – Reuters
Shares of Indian budget retailer Vishal Mega Mart surged 33.3% in pre-open debut trade on Wednesday, as investors bet on the company’s growth avenues and resilience to challenges faced by larger rivals.
- December 18, 2024 09:35
Vishal Mega Mart listing live: Catch the listing ceremony live here
(Source: X/@NSEIndia)
- December 18, 2024 09:21
Vishal Mega Mart IPO listing today
Of the three listings today, the IPO of Vishal Mega Mart was the largest at ₹8,000 crore. The initial public offering was subscribed over 27 times on the last day of the issue with bids coming in for over 2,064 crore shares as against the 75.7 crore shares on offer, thanks mainly to institutional investors. The IPO the came out with a price band of ₹74-78 and the company fixed the IPO price at the upper end. According to market buzz, that the stock is expected listed with a premium of about ₹18-20.
The quota for qualified institutional buyers was subscribed nearly 81 times while non-institutional investors’ over 16 times. Demand from retail investors was relatively muted being subscribed only 2.3 times.
The retailer’s ₹8,000 crore IPO is entirely through an offer for sale by its promoter. Currently, Samayat Services LLP holds a 96.55 per cent stake in the Gurugram-based supermart major. As the IPO is an OFS, the company will not receive any funds from the IPO proceeds.
Report by KS Badri Narayanan of businessline | Read here
