Vishal Mega Mart Surges on Stock Market Debut

Vishal Mega Mart's shares soared by 43.50% during their stock market debut, closing at Rs 111.95. The Gurugram-based retailer's IPO was oversubscribed 27.28 times, valuing the company at Rs 50,475.11 crore. Despite the stock surge, broader market indices like BSE Sensex and NSE Nifty saw declines.

On its debut, Vishal Mega Mart saw an impressive surge in stock value, with shares rising 43.50% to close at Rs 111.95. This increase marked a significant jump from the initial issue price of Rs 78, indicating strong market demand.

The Gurugram-based megastore's initial public offering (IPO) was highly successful, being subscribed 27.28 times. This positions the company with a substantial market capitalization of Rs 50,475.11 crore.

Despite Vishal's roaring entrance into the market, major indices like the BSE Sensex and NSE Nifty experienced a decline, illustrating a mixed day for the equities market overall.

(With inputs from agencies.)