Vishal Mega Mart Promoter Sells 14 Percent Stake for $838M
Samayat Services LLP sold 652.5 million shares in Vishal Mega Mart at a discounted price. Buyers included HDFC Mutual Fund and the Government of Singapore.
The largest promoter of budget retailer Vishal Mega Mart Ltd. in India offloaded a 14% stake in the company on Friday through block deals valued at 76.36 billion rupees ($838.46 million). Samayat Services LLP, which held a 54.09% stake prior to the transaction, sold 652.5 million shares at an average price of 117 rupees. This price represented an 8.3% discount to the previous day's closing level.
Market reaction to the discounted sale was immediate, with shares of Vishal Mega Mart Ltd. falling as much as 8.3% during intraday trading. The stock eventually closed the session down 7.7%, contributing to a total decline of 13.7% since the start of 2026. The significant share volume was absorbed by several major institutional buyers, including HDFC Mutual Fund, the Government of Singapore, and the Monetary Authority of Singapore.
