Promoter entity Samayat Services LLP has divested nearly 14% stake in Vishal Mega Mart (VMM) for ₹7,635 crore through open market transactions on the National Stock Exchange of India (NSE), according to bulk deal data.
Samayat Services LLP a special purpose vehicle owned by private equity firms Kedaara Capital and Partners Group sold 65.25 crore equity shares in two tranches, representing a 13.96% stake in the company.
The shares were offloaded in the price range of ₹117–₹117.03 per share, taking the total transaction value to ₹7,635.55 crore.
Institutional Buyers Step In
On the buying side, major institutional investors absorbed a significant portion of the stake:
- The Government of Singapore Investment Corporation acquired 12.69 crore shares (2.72%)
- HDFC Mutual Fund purchased 9.40 crore shares (2.01%)
- The Monetary Authority of Singapore picked up 7.33 crore shares (1.57%)
Collectively, these entities bought 29.42 crore shares (6.3% stake) at an average price of ₹117 per share, amounting to ₹3,443.17 crore.
Details regarding other buyers were not disclosed on the exchange.
Stock Reaction
Following the block deal, Vishal Mega Mart shares declined 7.59%, closing at ₹117.85 per share on the NSE.
Promoter Exit Trend
This is not the first significant divestment. In June 2024, Samayat Services LLP had sold a 19.6% stake for ₹10,220 crore.
Kedaara Capital and Partners Group had originally acquired Vishal Mega Mart in 2018 from TPG Capital and Shriram Group for approximately USD 735 million.
In 2024, the private equity backers took the company public, raising ₹8,000 crore via IPO.
Company Overview
Incorporated in 2010, Vishal Mega Mart operates wholesale and cash and carry trading under the ‘Vishal’ brand and grants franchise rights for its retail stores. The company runs retail operations through its wholly owned subsidiary Airplaza.
Follow Startupbydoc for daily startup insights, funding news, IPO analysis, and business breakdowns.