By Nandan Mandayam and Kashish Tandon (Reuters) -Indian budget retailer Vishal Mega Mart's $943 million IPO was fully subscribed on the second day of bids on Thursday, though a flood of recent offerings dulled retail investors' appetite for a company analysts say is immune to its bigger rivals' problems.

According to stock market observers, the company’s shares are available at a premium of ₹26 in the grey market today

Vishal Mega Mart Ltd.’s $944 million initial public offering was fully sold on the second day of the sale, driven by strong demand from high-networth and retail investors.

(Reuters) -Indian budget retailer Vishal Mega Mart's 80-billion-rupee ($943 million) initial public offering (IPO) was fully subscribed on day two of bids, led by demand from non-institutional investors.

Non-Institutional Investors (NIIs) have led the demand for the Vishal Mega Mart IPO, subscribing to their reserved quota 1.71 times

Find the latest news on stock markets and companies here Vishal Mega Mart IPO has been subscribed 49% or 0.49 times as at 4.33 pm. Vishal Mega Mart IPO has been subscribed 36% or 0.36 times as at 3.15 pm.

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.