Vishal Mega Mart IPO Sees Overwhelming Response

Vishal Mega Mart's Rs 8,000-crore initial public offer (IPO) was fully subscribed on the second day, receiving 1.53 times more bids than shares available. The IPO, which will end on December 13, is entirely an offer-for-sale and has garnered significant interest from anchor investors.

The Rs 8,000 crore initial public offering (IPO) of Vishal Mega Mart saw strong demand, achieving full subscription 1.53 times on Thursday, the second day of bidding.

According to the NSE, the IPO received bids for 1,15,74,96,150 shares against 75,67,56,757 shares available. Non-institutional investors subscribed 3.80 times, while retail investors subscribed 1.16 times. Qualified Institutional Buyers showed modest interest at 48 percent.

With a pricing range of Rs 74-78 per share, the IPO will conclude on December 13. Managed by Kotak Mahindra Capital and others, the shares will be listed on the BSE and NSE.

(With inputs from agencies.)