Vishal Mega Mart shares jump 41% in market debut

New Delhi: Shares of Vishal Mega Mart Ltd on Wednesday jumped 41 per cent in early trade against the issue price of Rs 78.

The stock listed on the BSE at Rs 110, up 41 per cent from the issue price. Later, it rose 42.24 per cent to Rs 110.95.

On the NSE, it listed at Rs 104, up 33.33 per cent from the issue price.

Vishal Mega Mart’s market valuation stood at Rs 48,644.57 crore.

Vishal Mega Mart’s Rs 8,000 crore initial public offering was subscribed 27.28 times on the last day of bidding on Friday.

The initial public offering (IPO) was priced at Rs 74-78 per share.

The IPO of the Gurugram-based supermarket major was entirely an offer for sale (OFS) of shares by Samayat Services LLP, a subsidiary of promoter Kedaara Capital-led Samayat Services LLP, with no fresh issue of equity shares.

Vishal Mega Mart’s product range consists of both in-house and third-party brands, covering three major categories – apparel, general merchandise and fast-moving consumer goods.

As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, as well as a mobile app and website.