Dec 18, 2024 12:14 PM IST
Vishal Mega Mart’s ₹8000 crore IPO was open for bidding from December 11 to 13.
Shares of Vishal Mega Mart surged 41 per cent on Wednesday, because the funds retailer made its debut on the inventory exchanges.
Vishal Mega Mart (File Picture)
The inventory listed at ₹110 on the Bombay Inventory Trade (BSE), a 41 per cent improve over the corporate’s ₹78 challenge value. Later, the inventory was at ₹110.95, up 42 per cent.
However, the Vishal Mega Mart inventory was listed at ₹104 on the Nationwide Inventory Trade (NSE), a 33 per cent soar from the problem value.
The Vishal Mega Mart IPO, which was accessible for bidding from December 11-13, obtained 27.28 instances subscription on the closing day.
The general public challenge of the Gurugram-based supermart main was completely an offer-for-sale (OFS) of shares by promoter Kedaara Capital-led Samayat Providers LLP, Samayat Providers LLP, with no recent challenge of fairness shares.
The product vary of Vishal Mega Mart contains each in-house and third-party manufacturers, which cowl three classes: attire, basic merchandise, and fast-moving client items.
As of June 30, there have been as many as 626 Vishal Mega Mart shops throughout the nation, together with a cell app and web site.
In keeping with Reuters, 70 per cent of those shops are in smaller cities, the place fast commerce was nonetheless in a nascent stage.
“While metros are seeing a decline in consumption due to inflation, tier 2 and tier 3 cities are seeing a rise in demand. Vishal, with most of its stores in smaller cities, stands to benefit from this,” Narendra Solanki of Anand Rathi Monetary Providers instructed the company.
(contains PTI inputs)
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