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.

VMML has launched the IPO with a price band between Rs 74 and Rs 78 per share to raise Rs 8,000 crore through an offer-for-sale (OFS).

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(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.

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.

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

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