Mobikwik shares list at 58.5% premium over IPO price; Vishal Mega Mart debuts 41% higher
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After garnering an overwhelming response for its ₹572 crore IPO, shares of One Mobikwik Systems made a strong debut on the domestic bourses, in an otherwise muted broader market. The shares of Mobikwik listed at ₹442.25 on the BSE, a premium of 58.5% over the issue price of ₹279. On the NSE, the stock opened 57.7% higher at ₹440 per share.
Meanwhile, shares of Vishal Mega Mart listed at ₹110 on the BSE, up 41% over the IPO price of ₹78 on the BSE. On the NSE, the stock belled the day at ₹104, 33.3% higher against its issue price.
On the other hand, shares of Sai Life Sciences listed at 20% premium at ₹600 on the BSE against the IPO price of ₹549 on the BSE. On the NSE, the stock opened 18.4% higher at ₹650 on the NSE.
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Post listing, Mobikwik shares gained as much as 88% to hit a high of ₹524 on the BSE, while the market capitalisation climbed to ₹3,870 crore. On the other hand, Vishal Mega Mart shares rose 42.2% to ₹110.95 on the BSE, with its m-cap increasing to ₹49,570 crore. The shares of Sai Life Sciences rallied up to 32% to ₹724, while its market cap rose to ₹14,690 crore.
The listings of Mobikwik, Vishal Mega Mart, and Sai Life Sciences were better than Street expectations as they were commanding grey market premium (GMP) of ₹160, ₹22, and ₹72, respectively, in the unlisted market.
The IPO of One MobiKwik Systems, which was completely fresh issue of equity shares, received strong response from investors, especially from retailers, as the issue was subscribed 119.38 on the last day of bidding. The issue, which opened on December 11, received bids of 141.72 crore shares against the offered 1.18 crore equity shares at a price band of ₹265-279 per share.
The retail portion was subscribed 134.67 times bidding, while non-institutional investors (NII) segment was booked 108.95 times. The portion set aside for qualified institutional buyers (QIB) was subscribed 119.50 times.
On the other hand, the ₹8,000-crore IPO of supermarket operator was subscribed 27.28 times on Day 3 of bidding. The issue was issue subscribed 2.3 times in the retail category, 80.75 times in QIB, and 14.25 times in the NII segment on the last day of bidding.
The IPO of Gurgaon-headquartered company is entirely an offer-for-sale (OFS) of shares by promoter Samayat Services LLP, which holds 96.55% stake in the supermart company, offered at a price band of ₹74-78 per share.
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