- Wednesday, December 18, 2024
The ₹80 billion initial public offer of Vishal Mega Mart received 27.28 times the subscription on the closing day of bidding on Friday
By: Shajil Kumar
SHARES of Vishal Mega Mart Ltd surged 43.50 per cent in debut trade on Wednesday against the issue price of ₹78.
The stock listed at ₹110, rallying 41 per cent from the issue price on the BSE.
During the day, it surged 48.20 per cent to ₹115.60. Shares of the firm finally ended at ₹111.95, a jump of 43.52 per cent.
At the NSE, the stock was listed at ₹104, a surge of 33.33 per cent from the issue price. Shares of the firm ended at ₹111.93, climbing 43.5.
Vishal Mega Mart’s market capitalisation (mcap) stood at ₹504.75 billion (£4.68bn).
The ₹80 billion (£741.23m) initial public offer of Vishal Mega Mart received 27.28 times the subscription on the closing day of bidding on Friday.
The initial public offer (IPO) had a price range of Rs 74-78 apiece.
The IPO of the Gurugram-based supermart major was entirely an Offer-for-Sale (OFS) of shares by promoter Kedaara Capital-led Samayat Services LLP, Samayat Services LLP, with no fresh issue of equity shares.
Vishal Mega Mart’s product range includes both in-house and third-party brands, covering three key categories – apparel, general merchandise, and fast-moving consumer goods.
As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website. (PTI)
