Vishal Mega Mart's initial public offering drew bids worth $19 billion on Friday as institutional investors piled in, underscoring confidence in the budget retailer's growth prospects and its resilience amid a quick-commerce boom.

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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.

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.

Vishal Mega Mart IPO has set a price range of Rs 74 to Rs 78 per share. Retail investors need to purchase a minimum of 190 shares in a single lot, requiring an initial investment of Rs 14,820.

According to market observers, shares of the company are available at a premium of ₹22 in the grey market today

MobiKwik's [ONEM.NS] 5.72 billion-rupee ($67.4 million) IPO was snapped up in under an hour on Wednesday as retail investors flooded in, betting on the Indian fintech firm's long-term prospects in a booming online payments market and short-term gains once the stock lists.

While PropShare Platina REIT now holds the title of the most expensive security, Elcid Investments continues to be the priciest stock.

Supermarket store operator Vishal Mega Mart's public issue will open for subscription on December 11. Established in 2001, Vishal Mega Mart is a hypermarket chain offering various products, including apparel,