Vishal Mega Mart block deals: Shares of Vishal Mega Mart, the supermarket chain, which listed its shares in December 2024, rallied as much as 4.3% to ₹132.23 apiece on the NSE in the early trade on Wednesday, June 18.
The company witnessed a mega block deal on Tuesday, June 17.
The block deal data on the NSE that was updated in the evening showed that Samayat Services LLP, one of the promoter entities of supermarket chain Vishal Mega Mart, divested a 19.6% stake in the company for ₹10,220.40 crore through open market transactions.
Samayat Services LLP is a special-purpose vehicle owned by private equity firm Kedaara Capital and Switzerland-based Partners Group.
According to the bulk deal data on the National Stock Exchange (NSE), Samayat Services LLP offloaded a total of 90 crore shares in two tranches, representing a 19.58% stake in Gurugram-based Vishal Mega Mart.
The shares were disposed of in the price range of ₹113.51-₹113.61 apiece in a total deal value of around ₹10,220.40 crore.
Following the stake sale, Samayat Services LLP’s holding in Vishal Mega Mart (VMM) has reduced to 54.97% from 74.55%.
Meanwhile, SBI Mutual Fund (MF), Kotak Mahindra MF and HDFC MF bought shares of the supermarket chain.
SBI MF purchased 16.58 crore shares, or a 3.61% stake in Vishal Mega Mart, while Kotak Mahindra MF acquired an additional 7.95 crore shares, amounting to a 1.73% holding in VMM. HDFC MF picked up 7.50 crore shares, or a 1.63% stake, in Vishal Mega Mart.
These entities purchased more than 32.03 crore shares of Vishal Mega Mart at an average price of ₹113.50 apiece, taking the aggregate value to ₹3,636.26 crore.
Details of the other buyers of shares in Vishal Mega Mart could not be ascertained on the NSE.
Shares of Vishal Mega Mart rose 4.04% to close at ₹129.90 apiece on the NSE.
In 2018, Partners Group and India-focused PE firm Kedaara Capital bought Vishal Mega Mart from investment firm TPG Capital and Shriram Group for around USD 735 million.
In 2024, Kedaara Capital and Partners Group took Vishal Mega Mart public to raise ₹8,000 crore through an initial public offering.
Vishal Mega Mart engages in wholesale, cash and carry trading under the ‘Vishal’ brand and grants franchise rights for Vishal Mega Mart franchise stores. It was incorporated in 2010. VMM operates retail stores through its wholly owned subsidiary, Airplaza.
Vishal Mega Mart IPO and listing details
Vishal Mega Mart debuted on the stock exchanges on December 18, 2024.
Shares of the company jumped 41% in debut trade against the issue price of ₹78.
The stock listed at ₹110, rallying 41% from the issue price on the BSE. Later, it surged 42.24% to ₹110.95.
At the NSE, it listed at ₹104, a jump of 33.33% from the issue price.
The ₹8,000 crore initial public offering (IPO) of Vishal Mega Mart received 27.28 times subscription by the closing day of bidding.
The IPO had a price range of ₹74-₹78 apiece.
Vishal Mega Mart’s product range includes both in-house and third-party brands, covering three key categories – apparel, general merchandise, and fast-moving consumer goods.
As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website.
(With inputs from PTI)
