Vishal Mega Mart promoter sells 19.36% stake in Rs 10,220 crore block deal
Vishal Mega Mart made a stellar debut on Dalal Street in December 2024. In the fourth quarter, ended on March 31, the company witnessed 88% jump in ear-on-year (YoY) jump in profit to Rs 115.1 crore
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Samyat Services LLP, promoter of Vishal Mega Mart (VMM) sold a 19.36% equity stake via a Rs 10,220 crore block deal in the company.
According to the BSE filing, the promoters of grocery to grocery-to-apparel chain sold 950,000,000 equity shares of Vishal Mega Mart, representing 19.36% of the total issued and paid-up equity share capital of the company through bulk deals. Notably, the promoters have initially planned to sell a 10% stake for Rs 5,075 crore.
Samyat Services held a 74.6% stake in Vishal Mega Mart as of 31 March 2025. Whereas, domestic institutional investors held a 12.2% stake and foreign institutional investors held a 7% stake in the retail chain.
The buyers of the deal included HDFC Mutual Fund, Kotak Mahindra Mutual Fund, and SBI Mutual Fund, which cumulatively picked up nearly 7% stake in the block deal, spending Rs 3,636 crore, as per the filing.
The promoters' share sale has come after the end of the lock-in period for the company's pre-IPO shareholders. Following the expiry of the lock-in period, 56% of the equity became eligible for trade.
Vishal Mega Mart made a stellar debut on Dalal Street in December 2024 as the share listed at Rs 104 each on the National Stock Exchange at 33% premium over the issue price of Rs 78.
In the fourth quarter, ended on March 31, the company witnessed 88% jump in ear-on-year (YoY) jump in profit to Rs 115.1 crore, while its revenue from operations rose 23% YoY to Rs 2,548 crore.
The EBITDA margin stood at 14% in the said quarter as against 12.1% in the year-ago quarter.
The shares of Vishal Mega Mart were up 1.45%, trading at Rs 128.61 on Wednesday 12:05 pm.
