Vishal Mega Mart Stock Opens 41% Above IPO Price

18 Dec 2024 , 10:30 AM

With a 41% premium at Rs 110, Vishal Mega Mart shares made a spectacular debut on the markets on Wednesday. On the NSE, the stock opened at Rs 104, a 33.3% premium.

Even though the offer was completely OFS, Vishal Mega Mart saw strong demand from all investor types, particularly from QIB investors who placed over 85 bids, while retail investors were less interested because of OFS fears.

With a high scalability business model, the company is strategically focused on underserved communities and has a strong focus on catering to India’s expanding middle- and lower-middle-class demographics. It does this by using a diversified goods mix and value pricing to draw in and keep clients.

The company will not get any profits from the IPO because it is entirely an OFS.

Vishal Mega Mart is a well-known hypermarket business in India that specializes on fashion. While the Food and Groceries department carries a variety of FMCG products, such as necessities for personal and household care, the General Merchandise sector offers kitchen and home equipment in addition to vacation gear.

At present, the company’s market capitalization is at Rs 35,168.01 crore. The company’s revenue increased 17.41% year over year in FY24, while its profit after taxes soared 43.78%.

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