On December 18, 2024, MobiKwik and Vishal Mega Mart made headlines with their Initial Public Offerings (IPOs), showcasing remarkable investor enthusiasm in India's fintech and retail sectors.
MobiKwik's IPO raised Rs 572 crore, oversubscribed by an astonishing 120 times. The shares were priced between Rs 265 and Rs 279, with expectations of listing around Rs 439, indicating a potential 60% return for investors. The strong demand reflects confidence in MobiKwik’s growth in the digital payments space.
Similarly, Vishal Mega Mart's IPO aimed to raise Rs 8,000 crore and was oversubscribed by 27.28 times. The price band was set at Rs 74 to Rs 78 per share, with a Grey Market Premium (GMP) suggesting a listing price of Rs 97. The strong interest, with bids totaling Rs 1.6 lakh crore, highlights investor optimism in the retail giant's future.
Both IPOs underscore a growing trend of investor confidence in India's expanding digital economy. As these companies prepare for their market debuts, they represent significant opportunities in their respective sectors.