The initial public offering (IPO) of supermarket chain Vishal Mega Mart began on a strong note with the issue showing a subscription of 51 per cent on the first day.

Data from the BSE showed investors bidding for 38,63,32,890 shares against 75,67,56,757 shares on offer.

Non-institutional investors led the charts with the portion reserved for this category subscribed 1.11 times.

Retail investors bid for 19,96,23,880 shares compared with 37,83,78,379 shares reserved for the group, a subscription of 53 per cent.

The qualified institutional investors book showed a 3 per cent subscription. This is expected to jump on the last day of the issue which is December 13.

On Tuesday, the company had mobilised ₹2,400 crore from anchor investors. Those who were allotted shares in the anchor round included SBI Mutual Fund, the Government of Singapore, Nomura Funds Ireland Public Ltd, Axis Mutual Fund (MF), HDFC MF and ICICI Prudential MF.

In all, a total of 18 domestic mutual funds participated through 44 schemes, collectively accounting for 53.33 per cent of the anchor portion.

Vishal Mega Mart allotted 30.76 crore equity shares to 89 funds at ₹78 per share. The ₹8,000-crore IPO comes at a price band of ₹74-78 per share.

MobiKwik issue

The initial public offering (IPO) of fintech company One MobiKwik Systems got subscribed 7.3 times on the first day of the sale on Wednesday.

The Gurgaon-based firm had first planned an IPO in July 2021. However, it shelved the plans and withdrew the draft papers because of unfavourable market conditions.

The offer received bids for 8,68,26,031 shares against 1,18,71,696 on offer, according to data available on the National Stock Exchange (NSE).

The retail individual investors (RIIs) portion was subscribed 26.71 times, while the non-institutional investors category received an 8.97 times subscription.

The quota for Qualified Institutional Buyers (QIBs) received a mere 2 per cent subscription.

With inputs from PTI