Vishal Mega Mart's Explosive Stock Debut: A 41% Leap

Shares of Vishal Mega Mart soared 41% on debut, listing at Rs 110 on BSE and Rs 104 on NSE, against the issue price of Rs 78. The IPO, entirely an Offer-for-Sale by Samayat Services, received 27.28 times subscription, valuing Vishal Mega Mart at Rs 48,644.57 crore.

Vishal Mega Mart Ltd experienced a remarkable entry into the stock market, with shares rising 41% against their issue price of Rs 78 on the Bombay Stock Exchange (BSE), beginning trading at Rs 110. The positive momentum saw further gains, pushing the stock to Rs 110.95, a 42.24% surge from the initial listing.

On the National Stock Exchange (NSE), Vishal Mega Mart's shares marked a 33.33% increase, opening at Rs 104. This significant market response follows the Rs 8,000-crore initial public offering, which witnessed a massive 27.28 times subscription on its final bidding day.

This IPO was an Offer-for-Sale (OFS) by Kedaara Capital-led Samayat Services LLP, with no new equity shares issued. The company, a prominent player in the Indian retail space, operates 626 stores nationwide, offering apparel, general merchandise, and fast-moving consumer goods, with a robust online presence.

(With inputs from agencies.)