The lowest price of Vishal Mega Mart shares is about 43.5% for the week

Vishal Mega Mart (VMM) Listing Day Profit.: Vishal Mega Mart—now trading under the symbol VMM on the BSE and NSE stock exchanges—made a stellar entry into the listed space on Wednesday, December 18, with the fashion-led hypermarket’s stock starting at a premium of 33-41 each. cent over the issue price. At the end of its first day in the secondary market, shares of Vishal Mega Mart stood at Rs 112 apiece on the BSE and Rs 111.9 apiece on the NSE, a premium of 43.5 percent.

The star listing of Vishal Mega Mart stock follows strong demand for the company’s IPO, which was open for registration from December 11 to December 13.

Highlights of Vishal Mega Mart (VMM) IPO

At the end of the three-day bidding process, the IPO received total subscriptions of more than 27 times the shares on offer, according to provisional exchange data.

During the first session, the stock touched a high of Rs 115.6 apiece on the BSE and Rs 114.4 apiece on the NSE, a premium of 47-48 percent over the issue price.

What market wizard Anil Singhvi suggests

Zee Business Managing Editor Anil Singhvi, who predicted a strong listing for Vishal Mega Mart, is bullish on the stock from a long-term perspective.

The market guru suggests that long-term investors hold on to the stock to earn up to 100 percent returns in the next 2-3 years.

He suggests that short-term investors continue to hold the stock with trailing losses below Rs 87.

UPDATE: MobiKwik ends listing day with 90% payout; find important takeaways from the latest startups on the market

Anchor Investors

Ahead of the IPO, Vishal Mega Mart (VMM) raised Rs 2,400 crore from backer investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, Nomura Funds Ireland Public, HDFC Mutual Fund and the Government of Singapore.

Get all the latest stock market updates here. For all other news, visit Zeebiz.com.