Vishal Mega Mart share price made a scintillating debut on the stock exchanges on Wednesday, December 18, 2024. The stock opened at ₹104 per share on the NSE. It wasa very impressive 33.33% premium over its issue price of ₹78. On the BSE, it even zoomed ahead, starting at ₹110, which was a jump of 41% from the issue price.
The good times didn’t stop there. The Vishal Mega Mart share price listed on the NSE with an additional 7% climb to close at ₹111.19. This has come off the back of an IPO that was clearly oversubscribed 28 times. QIB participation was a key driver with the IPO attracting bids worth ₹1.61 lakh crore against its ₹8,000 crore offer size.
Market analysts were mixed in their views about the stock’s future course. Some were cautious since the IPO was a pure offer-for-sale. No direct money would go into the company’s pocket. Others pointed to Vishal Mega Mart share price as an indication of its strong retail footprint, stable financial performance, and cost-efficient strategies.
Experts open up on Vishal Mega Mart share price
The strong listing was attributed to robust investor demand by Shivani Nyati, Head of Wealth at Swastika. She cited the leadership position of the company in the offline retail space and appeal to middle- and lower-middle-income groups. But Nyati advised investors to book profits at this level while maintaining a stop-loss of ₹95 for those holding on for the medium term.
Prashanth Tapse, Senior VP at Mehta Equities, echoed similar views. He suggested conservative investors take advantage of the current volatility and secure gains. Long-term investors, however, were encouraged to hold or accumulate more shares if prices dip post-listing.
According to research analyst Akriti Mehrotra, Vishal Mega Mart shares represented an opportunity.The company was focused on Tier-2 and Tier-3 expansion and same-store sales. Long-term investors should have faith in the growth of the company, she said.
Vishal Mega Mart operates 626 stores across the country and caters to India’s rising demand for affordable, diversified retail. With a portfolio covering apparel, general merchandise, and FMCG, it continues to attract interest as one of India’s top offline-first retailers.
Also, see: Vishal Mega Mart IPO Allotment Status On NSE And BSE: Everything You Should Know