Vishal Mega Mart share price jumps 7% after bumper listing. Should you buy, sell or hold?

Stock Market Today: Vishal Mega Mart share price made a strong debut on the stock market on Wednesday, December 18, listing at ₹104 per share on the NSE, marking a 33.33% premium over the issue price of ₹78. On the BSE, the stock opened at ₹110, 41% higher than the issue price.

Even after a strong start, the stock continued its momentum, gaining another 7% against the listing price to reach ₹111.19 on the NSE. This surge followed a strong investor response to the issue, which was oversubscribed by 28 times, with significant interest coming from the QIB segment. The IPO received bids worth over ₹1.61 lakh crore compared to the issue size of ₹8,000 crore.

Following the stock’s stellar debut, analysts remain mixed on the company’s prospects. While some have expressed caution regarding further gains, as the company will not directly benefit from this IPO, given its offer-for-sale nature, others are optimistic about Vishal Mega Mart’s growth trajectory and cost-effective initiatives.