Vishal Mega Mart Ltd.'s promoter is looking to sell shares worth Rs 3,508 crore on Friday through a block deal, sources told NDTV Profit. The promoter will likely offload 30.5 crore shares, representing 6.5% of equity.
In addition, the floor price for the block deal is set at Rs 115 apiece. This is at a discount of 10% from the current market price. There will also be 150 days lock-in on the remaining stake.
Morgan Stanley and Kotak Securities are banker to the deal, people in the know told NDTV Profit.
According to Bloomberg, Samayat Services is the promoter looking to offload shares. Samayat Services LLP holds 54.09% stake in the company, according to data on BSE.
ALSO READ: Stock Market Today: Nifty, Sensex End Flat After Sharp Intraday Moves; HDFC Bank Top Drag
In June Promoter Kedaara Capital, via Samayat Services LLP, sold 90 crore shares, representing a 19.57% stake in the company, for Rs 10,220 crore. The firm owned 74.55% equity in the company as of March 2025. The shares were traded at an average price of Rs 113.5 apiece.
SBI Mutual Fund in June had acquired 16.58 crore shares or 3.6% equity for Rs 1,882 crore. Kotak Mahindra Mutual Fund bought 7.95 crore shares or 1.72% equity for Rs 902 crore and HDFC Mutual Fund bought 1.63% equity for Rs 811 crore.
Vishal Mega Mart share price settled 3.72% higher at Rs 127.53 apiece on the NSE, compared to 0.06% higher benchmark Nifty 50. The stock has risen 23.76% in the last 12 months and 6.48% so far this year.
Out of the 15 analysts tracking Vishal Mega Mart, 13 recommend a 'buy' and two 'sell'. Elara Capital has the most bullish target at Rs 192, while Bernstein has a bearish view with a Rs 100 target.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.