Vishal Mega Mart Share Price
Vishal Mega Mart shares were trading approximately at Rs 100, with Rs 22 or 28.21 per cent premium on Rs 78 which was the price offered to an investor, prior to the commencement of trading., as per the information available on ‘grey market’ activities.
Vishal Mega Mart IPO listing today:
Vishal Mega Mart shares made their debut at Rs 110 apeice in BSE against Rs 78 which was the issue price of the shares, up by one percent as compared to when they made their listing under National stock exchange amid a general downward trend. The supermarket of india made its first auction at of Rs 110 on BSE.
As on the National stock exchange, shares of vishal mega mart started with a premium of 33.33 percent at the issue price of rupees 104. After listing, around 10:03 AM, Vishal Mega Mart shares were down 4.54 percent, to around Rs 105.01 as BSE was 11 percent higher at a price of Rs 109.46.
The Vishal Mega Mart IPO opening came in almost exactly as the grey markets had predicted. A source that monitors grey markets explains that the day prior to the listing, shares were at Rs 100 which was much higher than the issue price of Rs 78 which resulted in a Rs 22 premium translating to 28.21 percent.
Vishal Mega Mart IPO, which was exclusively a 8000 crores OFS, was opened for bidding from 11th December to 13th December 2024. The bidding was done in a price range from Rs 74 to Rs 78 with a minimum investment of 190 shares, it was reported the project received bids that were 27.28 times more than the expected amount, mostly from QIB who bought 80.75 times their allowance according to BSE. Their bids were only a bit smaller as NIIs subscribed more than 14.24 times their limit while RIIs bought 2.31 more than theirs.
It can be observed that since the public offering is an OFS, there will be no proceeds to be earned by Vishal Mega Mart. All the proceeds after deduction of offer expenses and taxes shall be paid to the promoter selling shareholder as per the Red Herring Prospectus RHP.
The firm equally managed to attract positive reviews from several brokerage houses such as Bajaj Broking, Swastika Investmart, Master Capital Services, Choice and AUM Capital. There was a positive long-term view on the public offering by the market analysts.
Vishal Mega Mart, which has its own stores and an online platform aims at middle and lower-middle-income consumers, is a hypermarket chain with almost 645 stores spread across India offering diverse types of products. The presence of the company is in 414 cities located in 28 states and 2 union territories. By the end of September 2024, the company had 16,537 employed by it which worked in various departments.