Vishal Mega Mart IPO listing today: Shares debut with 33% premium on NSE

Vishal Mega Mart IPO listing today:Shares of Vishal Mega Mart, a hypermarket chain operator, made a positive start in an otherwise weak market. Vishal Mega Mart shares listed at Rs 110 apiece on the BSE, a premium of 41 per cent over the issue price of Rs 78.

 

On the National Stock Exchange (NSE), Vishal Mega Mart shares listed at a premium of 33.33 per cent at Rs 104 apiece, against the issue price.  Post listing, around 10:03 AM, shares of Vishal Mega Mart were down 4.54 per cent or Rs 4.99 on BSE at Rs 105.01 and on NSE the shares were up 5.25 per cent or Rs 5.46 at Rs 109.46.

 

The Vishal Mega Mart IPO listing almost came in line with grey market expectations. Ahead of the listing, the company’s shares were trading at Rs 100, reflecting a premium of Rs 22 or 28.21 per cent over the issue price of Rs 78, revealed sources tracking grey market activities.  Also Read: Mobikwik IPO listing

 

The Vishal Mega Mart IPO, which comprised an entirely offer-for-sale (OFS) of equity shares worth Rs 8,000 crore, was available for subscription from Wednesday, December 11, 2024, to Friday, December 13, 2024. The public offering, priced in the band of Rs 74-Rs 78 with a lot size of 190 shares, closed with an oversubscription of 27.28 times, driven by strong demand from Qualified Institutional Buyers (QIBs), who subscribed 80.75 times the quota reserved for them, according to BSE data. Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) oversubscribed their respective categories by 14.24 times and 2.31 times, respectively.

 

Notably, since the public offering is an OFS, Vishal Mega Mart will not receive any proceeds from it. The promoter selling shareholder will receive the entirety of the proceeds after deducting offer-related expenses and relevant taxes, as per the Red Herring Prospectus (RHP).  Also Read: IGI IPO Aallotment

 

The company also garnered positive reviews from several brokerages, including Bajaj Broking, Swastika Investmart, Master Capital Services, Choice, and AUM Capital. Market analysts remained optimistic about the public offering from a long-term perspective.

 

Vishal Mega Mart is a hypermarket chain operating nearly 645 stores across India, offering a wide range of products. It targets middle and lower-middle-income consumers through its stores and online platform. The company has a presence in 414 cities across 28 states and two union territories. As of September 30, 2024, Vishal Mega Mart employed 16,537 people.