Vishal Mega Mart 首次亮相：库存将何去何从？

Vishal Mega Mart 的股票于 12 月 18 日星期三在股市首次亮相，在 NSE 开盘价为 104 卢比

Vishal Mega Mart shares had a stellar debut on the stock market on Wednesday, opening at a price that was 33.33% higher than the issue price on NSE. The stock commenced trading at ₹104 on NSE and ₹110 on BSE, marking a premium of 41%.

Vishal Mega Mart 股票周三在股市首次亮相，开盘价较 NSE 发行价高出 33.33%。该股在 NSE 的开盘价为 104 卢比，在 BSE 的开盘价为 110 卢比，溢价达 41%。

Continuing its surge, the stock gained an additional 7% from its listing price, reaching ₹111.19 on NSE. At 2:30 p.m., the stock was trading at ₹109.

该股继续飙升，较上市价额外上涨 7%，在 NSE 上达到 111.19 卢比。下午 2:30，该股交易价格为 109 卢比。

The IPO, which was entirely an offer-for-sale by promoters, saw a massive investor response, being oversubscribed by 28 times, especially in the QIB segment. The IPO received bids amounting to over ₹1.61 lakh crore, against the issue size of ₹8,000 crore.

此次IPO完全是发起人的要约出售，引起了投资者的强烈反响，超额认购达28倍，特别是在QIB领域。此次 IPO 收到的投标金额超过 16.1 亿卢比，而发行规模为 800 亿卢比。

While the stock's strong debut has grabbed investors' attention, analysts are divided on its future prospects. Some advise against expecting further gains due to the IPO's OFS structure, where the company will not directly benefit from the funds raised. However, others remain optimistic about the company's growth and cost-efficiency initiatives.

尽管该股的强劲首发引起了投资者的关注，但分析师对其未来前景存在分歧。一些人建议不要期望因 IPO 的 OFS 结构而获得进一步收益，因为该结构公司不会直接从筹集的资金中受益。然而，其他人仍然对该公司的增长和成本效益举措持乐观态度。

Highlighting the high demand, which led to the stock's strong debut, Shivani Nyati, Head of Wealth at Swastika, attributed the strong listing gains to the high investor demand, evident from the 28.75 times oversubscription. Pointing out Vishal Mega Mart's position as a leading offline retailer, its consistent financial performance, and its reasonable valuation drove investor interest. However, she advised investors to book profits at this level, suggesting a stop-loss around ₹95 for those intending to hold the stock long-term.

Swastika 财富主管 Shivani Nyati 强调了导致该股首次亮相的高需求，将强劲的上市收益归因于投资者的高需求，这从 28.75 倍的超额认购中可见一斑。指出Vishal Mega Mart作为领先的线下零售商的地位、其稳定的财务业绩以及合理的估值激发了投资者的兴趣。不过，她建议投资者在此水平上获利，并建议那些打算长期持有该股票的投资者将止损价定在 95 卢比左右。

Prashanth Tapse, Senior Vice President of Research at Mehta Equities, shared a similar view, recommending that conservative investors consider booking profits due to current market volatility. However, for long-term, risk-tolerant investors, he advised holding onto the stock with a long-term view, especially if the stock dips in the short term.

Mehta Equities 研究高级副总裁 Prashanth Tapse 也持有类似观点，建议保守投资者考虑因当前市场波动而获利了结。然而，对于长期、具有风险承受能力的投资者来说，他建议以长远眼光持有该股，尤其是如果该股短期下跌。

Emphasizing the company's strong growth prospects, Akriti Mehrotra, Research Analyst at StoxBox, highlighted the company's focus on expanding into underserved Tier-2 and Tier-3 cities. Vishal Mega Mart's strategy of diversifying its product offerings and enhancing in-store experiences is driving same-store sales growth, making it an attractive option for long-term investors. She recommended holding onto shares from a medium-to-long-term perspective.

StoxBox 研究分析师 Akriti Mehrotra 强调了该公司强劲的增长前景，并强调该公司专注于向服务不足的二线和三线城市扩张。 Vishal Mega Mart 的产品供应多元化和增强店内体验的战略正在推动同店销售增长，使其成为对长期投资者有吸引力的选择。她建议从中长期角度持有股票。