Mumbai : The IPO of Vishal Mega Mart, one of the biggest companies in the supermarket sector, has made a big entry in the Indian stock market. This IPO has performed brilliantly on BSE and NSE on the day of listing. Vishal Mega Mart launched it at an issue price of Rs 78. The shares of this company opened on BSE at a price of Rs 110 with a premium of 41.03%, while on NSE these shares were listed at Rs 104 with a gain of 33.33%. This performance of Vishal Mega Mart has brought cheer to the faces of the investors.
The most special thing about this IPO of Vishal Mega Mart is that its shares have opened at Rs 110 on BSE and Rs 104 on NSE compared to the issue price of Rs 78. Due to this, investors have benefited by 41.03 percent and 33.33 percent respectively. With the listing, the market capital of the company has also increased and it has increased to Rs 46,891 crore, which shows its strong market presence.
Click here to read other business news
got so many subscriptions
According to data released by BSE, this issue has been subscribed 27 times. Qualified Institutional Buyers i.e. QIBs and non-institutional investors have participated in it on a large scale.
Vishal Mega Mart has raised Rs 2400 crore from anchor investors. These include major names like SBI Mutual Fund, Government of Singapore, ICICI Prudential MF, Axis Mutual Fund and HDFC MF.
company business
Vishal Mega Mart operates across 414 cities in 28 states and 2 union territories in India with a strength of 645 stores. The company has a strong consumer base and offers products across various categories at affordable prices.
Attraction for investors
The company's strong brand value, network expansion and affordable products make it an important player in the retail sector. The company is using the amount raised through IPO for its promoters, as it was completely an offer for sale. The successful listing of Vishal Mega Mart has boosted investor confidence in the Indian retail sector. The company's target is to further expand its reach and provide better service to its customers.
Comments are closed.