Vishal Mega Mart Listing Live: Vishal Mega Mart, the chain of supermarkets across the country will see its shares make their stock market debut on the bourses on Wednesday. The ₹8,000 crore IPO saw subscription of over 27 times, with investors placing bids for over ₹1.6 lakh crore during the three-day period.
Vishal Mega Mart Listing Live: Vishal Mega Mart, the chain of supermarkets across the country made their stock market debut on Wednesday at a 33% premium to their issue price of ₹79. The stock has built on to these gains and is now up over 37%. The ₹8,000 crore IPO saw subscription of over 27 times, with investors placing bids for over ₹1.6 lakh crore during the three-day period. Qualified Institutional Buyers (QIBs) led the demand, subscribing 80.75 times the number of shares reserved for them. The portion reserved for non-institutional investors (NIIs) was subscribed 14.24 times, while the retail investor portion was subscribed only 2.31 times. Currently, reports are indicating a Grey Market Premium (GMP) of ₹19, which means that the stock may list at ₹97 per share, compared to its IPO price of ₹78. Of course, GMP is no indication of the actual listing price and is only speculative in nature.
