IPO craze continues as Vishal Mega Mart draws strong demand

Indian stocks are set for a muted start with other markets in the region trading lower. Vishal Mega Mart IPO craze continues as Vishal Mega Mart draws strong demand India’s equity capital markets show no signs of slowing down, edging closer to their 2021 peak of $21.8 billion in fundraising via IPOs. Vishal Mega Mart’s $944 million offering was snapped up in under two days, driven by strong demand from wealthy investors, even as institutional participation is yet to begin. Operating over 600 stores, Vishal targets lower-income customers via its brick-and-mortar format, a strategy that has challenged its much larger rival DMart, this year. Analysts actions: Dalmia Bharat Cut to Sell at BOB Capital Markets Three great reads from Bloomberg today: Xiaomi’s 103% rally puts EV dark horse on brink of stock record World’s richest family is about halfway to a $1 trillion fortune Big Take: Human eggs are a premium commodity for a global market The latest consumer inflation reading holds little immediate cheer for bond bulls, going by the slight uptick in the 10-year yield after the data release.