India’s equity capital markets are showing resilience, with Vishal Mega Mart’s $944 million Initial Public Offering (IPO) receiving strong interest. The offering was fully subscribed within just two days, driven primarily by demand from high-net-worth investors, signaling the continued vigor of the Indian stock market. Vishal Mega Mart, a retailer with over 600 stores targeting lower-income consumers, has garnered attention despite fierce competition from its larger rival, DMart.
The IPO comes at a time when India’s capital markets are inching closer to their 2021 fundraising peak of $21.8 billion, driven by a steady stream of IPOs. Vishal’s strong early demand suggests a promising debut, with its shares even attracting a premium in the unofficial grey market, indicating positive investor sentiment.
Meanwhile, Indian stocks are set to open on a cautious note as global markets trend lower. The Nifty 50 has faced a lackluster week, heading toward a possible weekly loss after three consecutive weeks of gains. With the holiday season approaching, market activity is expected to slow down in the coming weeks.
In other market news, the rally in small-cap stocks paused on Thursday after a 14-day winning streak. Analysts suggest the Nifty Smallcap 250 index remains healthy, with no signs of it being overbought. The upcoming earnings season will be a critical test for market momentum.
Additionally, the average daily turnover on the National Stock Exchange is recovering after falling to an eight-month low in November. This rebound is attributed to the return of foreign investors, which has boosted trading activity and spurred renewed interest from retail investors, especially in the small-cap segment.
As the market continues to navigate global uncertainties and domestic challenges, the IPO market remains a key driver of capital inflows and investor optimism.
 receiving strong interest. The offering was fully subscribed within just two days, driven primarily by demand from high-net-worth investors, signaling the continued vigor of the Indian stock market. Vishal Mega Mart, a retailer with over 600 stores targeting lower-income consumers, has garnered attention despite fierce competition from its larger rival, DMart.){kind=link}