Vishal Mega Mart IPO Garners Mixed Investor Interest on Debut

Vishal Mega Mart's IPO received a 51% subscription on its first day. The non-institutional investors' segment was oversubscribed, while retail investors and institutional buyers showed moderate interest. The IPO, worth Rs 8,000 crore, is entirely an offer-for-sale and will conclude on December 13, with shares listed on BSE and NSE.

Vishal Mega Mart's initial public offering (IPO) began with a 51% subscription rate on its opening day. According to the National Stock Exchange data, 38.59 crore shares were bid against the 75.67 crore on offer.

The category for non-institutional investors (NIIs) saw a promising 1.11 times subscription, while retail individual investors (RIIs) subscribed to 53% of their portion. Qualified institutional buyers (QIBs), however, showed minimal interest, contributing to only 3% of their segment.

The supermarket chain had previously raised Rs 2,400 crore from anchor investors. The Rs 8,000-crore IPO is an offer-for-sale by Samayat Services LLP. Vishal Mega Mart operates 626 stores across India, offering apparel, general merchandise, and fast-moving consumer goods. The shares are to be listed on both the BSE and NSE.

(With inputs from agencies.)