Vishal Mega Mart IPO Experiences Strong Listing Gains, Shares Trades at 40% of gain on NSE
The Gurugram-based supermarket chain, Vishal Mega Mart, made a strong debut on the stock exchange, delivering impressive listing gains for IPO investors that aligned with market expectations.
Vishal Mega Mart’s shares debuted on the NSE at a premium of 33.33% over the IPO allotment price of ₹78, opening at ₹104. This stellar performance resulted in substantial profits for IPO investors, bringing the company’s market capitalization to ₹46,891 crore.
The shares further increased in value, climbing to ₹111.19 per share on the NSE, representing a rise of 42%.
The ₹8,000 crore IPO of Vishal Mega Mart garnered an overwhelming response, with the public offering subscribed over 27 times during a three-day bidding period last week. Investors placed bids for 2,064 crore shares against the 75.67 crore shares available. The IPO was priced between ₹74 and ₹78 per share, with allotments finalized at the upper end of this range.
A significant portion of the proceeds, totaling ₹2,400 crore, came from anchor investors, which included SBI Mutual Fund, the Government of Singapore, Nomura Funds Ireland Public Ltd, Axis Mutual Fund, HDFC Mutual Fund, and ICICI Prudential Mutual Fund. The entire IPO was an offer for sale by the promoter entity, Samayat Services LLP, which is supported by Kedara Capital.
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