Mobikwik shares close with 89% gains; Vishal Mega Mart and Sai Life Rally around 40%

On December 18, One Mobikwik Systems, Vishal Mega Mart, and Sai Life Sciences made a strong debut in the stock market, despite the overall equity market pressure, with the benchmark Nifty 50 dropping 2.6% over the past three sessions.

Mobikwik

One Mobikwik Systems, a financial technology company offering payment systems and digital wallets, led the pack with its impressive performance. The company's shares opened 57.7% higher at Rs 440 on the NSE, reaching Rs 525 in early trade. Throughout the day, the stock remained between Rs 500-525, and in the last hour of trading, it surged to Rs 528, closing with an 89.25% gain over its issue price of Rs 279. On the BSE, Mobikwik's shares rallied 90.07%, closing at Rs 530.30, just shy of its record high of Rs 530.70. The company's market capitalisation at the close was Rs 4,119.71 crore, with a trading volume of 2.95 crore shares on the NSE and 26.02 lakh shares on the BSE.

Mobikwik raised Rs 572 crore through its IPO from December 11-13, priced at Rs 265-279 per share.

Vishal Mega Mart

Vishal Mega Mart, a hypermarket chain, also saw significant gains, closing 43.50% higher at Rs 111.93 per share on the NSE. The stock opened at Rs 104, up 33.3% from its issue price of Rs 78, and hit an intraday high of Rs 114.40. It traded within the Rs 111-107 range before breaking out in the final hours to close near its high. On the BSE, the shares closed at Rs 111.95, up 43.53%, with a trading volume of 7.95 crore shares. Vishal Mega Mart's market capitalisation now stands at Rs 50,475.11 crore.

The company raised Rs 8,000 crore through an offer-for-sale by its promoters, with a price band of Rs 74-78 per share during its IPO from December 11-13. Vishal Mega Mart targets middle and lower-middle-income groups, selling a range of products through its 645 stores across India.

Sai Life Sciences

Sai Life Sciences recorded a 39.28% gain on the NSE, closing at Rs 764.65 per share. The stock opened at Rs 650, an 18.4% increase over its issue price of Rs 549, and reached an intraday high of Rs 780. On the BSE, it closed at Rs 765.30, up 39.40% from its issue price and 17.7% from its opening price. The company's market capitalisation at the close was Rs 15,917.44 crore, with a trading volume of 4.66 crore shares on the NSE.

Sai Life Sciences, a Hyderabad-based CRDMO, raised Rs 3,042.6 crore through its IPO from December 11-13. The offer included a fresh issuance of equity shares worth Rs 950 crore and an offer-for-sale of 3.8 crore shares worth Rs 2,092.6 crore, with a price band of Rs 522-549 per share.