Vishal Mega Mart shares jump 41% in debut trade

Gurugram-based supermart listed at Rs 110 on BSE against the issue price of Rs 78

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

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

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At the NSE, it listed at Rs 104, a jump of 33.33 per cent from the issue price.

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

The Rs 8,000-crore initial public offer of Vishal Mega Mart received 27.28 times subscription on the closing day of bidding on Friday.

The initial public offer (IPO) had a price range of Rs 74-78 apiece.

The IPO of the Gurugram-based supermart major was entirely an Offer-for-Sale (OFS) of shares by promoter Kedaara Capital-led Samayat Services LLP, Samayat Services LLP, with no fresh issue of equity shares.

Vishal Mega Mart’s product range includes both in-house and third-party brands, covering three key categories — apparel, general merchandise and fast-moving consumer goods.

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