All three companies that made their stock market debut on Wednesday delivered a huge day-one pop for investors. Shares of digital payment major One Mobikwik Systems surged 90 per cent, while those of fashion retailer Vishal Mega Mart and pharma firm Sai Life Sciences gained around 40 per cent each.
 
These stellar debuts came despite the benchmark indices logging continuous declines since their initial public offerings (IPOs) closed on Friday. The maiden share sales, however, had evoked a strong response from investors, drawing cumulative bids worth Rs 2.2 trillion.
 
Vishal Mega Mart’s Rs 8,000-crore IPO—the fifth largest of the year—had garnered 27.3x subscription. Shares of Vishal Mega Mart ended at Rs 112, up Rs 34, or 44 per cent, over the issue price of Rs 78. At the last close, the Gurugram-based value retailer was valued at Rs 50,475 crore.

Mobikwik closed at Rs 530, up Rs 251.3, or 90.1 per cent, over its issue price of Rs 279. At the last close, the Gurugram-based fintech firm was valued at Rs 4,120 crore. Mobikwik’s Rs 572-crore IPO was subscribed 120 times.
 
Despite receiving a relatively modest response of 10x, Sai Life’s shares ended at Rs 765, up Rs 216, or 39.4 per cent, over the issue price of Rs 549. The contract research, development, and manufacturing organisation (CDMO) is now valued at Rs 15,917 crore.