Vishal Mega Mart shares had a stellar debut on the stock exchanges, listing at ₹104 on the NSE, a 33% premium over the issue price of ₹78. On the BSE, the shares opened even higher at ₹110, reflecting a 41% gain.
The much-anticipated listing follows the hypermarket chain’s oversubscribed ₹8,000-crore IPO, which garnered significant investor interest. The public issue saw a total subscription of 27.28 times during its three-day bidding window.
Key IPO Subscription Details:
- Qualified Institutional Buyers (QIBs): 80.75 times
- Non-Institutional Investors (NIIs): 14.24 times
- Retail Investors: 2.31 times
With a Grey Market Premium (GMP) of ₹22 ahead of the listing, strong demand indicated robust gains for investors. Those allotted shares saw listing gains of ₹26 per share, translating to a profit of ₹4,940 per lot (190 shares).
The Vishal Mega Mart IPO has proven to be a blockbuster debut, underlining investor confidence in the company’s growth potential and market position.
Company Overview:
Vishal Mega Mart operates a chain of 645 retail stores across 414 cities as of FY24, catering primarily to middle and lower-middle-class consumers.
- Store Distribution: ~35% of stores are concentrated in Uttar Pradesh, Karnataka, and Assam.
- Revenue Segments:
- Apparel: 44%
- FMCG: 27%
- General Merchandise: 29%
