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Vishal Mega Mart IPO Listing: Its shares were listed at Rs 110 apiece on the BSE, against the IPO issue price of Rs 78 per share.
Vishal Mega Mart IPO Listing.
Vishal Mega Mart IPO Listing: Vishal Mega Mart Ltd on Wednesday made a strong stock market debut with a listing gain of 41 per cent. Its shares were listed at Rs 110 apiece on the BSE, against the IPO issue price of Rs 78 per share. On the NSE, Vishal Mega Mart’s shares were listed at Rs 104, a premium of 33.3 per cent over the issue price.
The Vishal Mega Mart IPO, open for subscription from December 11 to December 13, garnered a total subscription of 28.75 times.
“The IPO offers an attractive valuation at 76x FY24 PE, making it relatively affordable compared to industry peers and providing a promising opportunity for retail investors. The valuation is further supported by a robust 50% CAGR growth in EPS, which enhances its appeal. Allottees can consider holding the shares for long-term gains,” said Gaurav Garg, research analyst at Lemonn Markets Desk.
Shivani Nyati, head of wealth at Swastika Investmart Ltd, said, “Vishal Mega Mart’s IPO saw a strong debut on the stock market with a 33.33% listing gain, opening at Rs 104 on the NSE compared to its issue price of Rs 78. This positive momentum can be attributed to its strong subscription of 28.75 times, reflecting high investor demand. The company’s position as a leading offline retailer, consistent financial performance, and reasonable valuation resonated well with investors.”
However, given that this was a complete offer for sale (OFS), there are no direct benefits to the company, making it a play purely on market sentiment and its growth story in the retail sector, she said.
“Investors are advised to book profits at this level, while those looking to hold should maintain a stop loss at around ₹95,” Nyati added.
Vishal Mega Mart is a leading name in India’s retail segment, offering a diverse range of products across three primary categories: Apparel, General Merchandise, and Fast-Moving Consumer Goods (FMCG).
As of June 30, 2024, the company operates 626 stores nationwide, supplemented by its mobile app and e-commerce website, ensuring a strong omnichannel presence.
