MUMBAI: Shares of fashion-focused hypermarket chain Vishal Mega Mart Ltd fell on Friday after a large block deal in the stock, with about 14.2% equity changing hands. The transaction was valued at around ₹7,500 crore, Bloomberg reported.
The secondary market transaction was initially expected to involve the sale of shares representing a 6.5% stake in the company. Promoter entity Samayat Services LLP, backed by Kedaara Capital, had earlier planned to sell up to 305 million shares at ₹115 each, according to a term sheet reviewed by Mint, which would have valued the block at ₹3,508 crore.
The stock touched an intraday low of ₹117.80 in early trade. On Thursday, shares of the Gurugram-based retailer had ended at ₹127.53, up 3.7% in a largely flat market.
As of December-end, Samayat held a 54.09% stake in Vishal Mega Mart.
Kotak Securities Ltd and Morgan Stanley India Co advised on the proposed block trade. The offloaded shares will carry a proposed lockup period of 150 days.
The transaction represents another liquidity event for Samayat, originally backed by homegrown Kedaara Capital and Switzerland-based Partners Group, since the company’s blockbuster listing. The two acquired Vishal Mega Mart in 2018 from TPG Capital and Shriram Group for ₹5,000 crore, as per the term sheet.
The December 2024 IPO was a pure offer-for-sale, with Samayat offloading shares worth ₹8,000 crore. In June 2025, it again sold 900 million shares, representing a 19.6% stake, for ₹10,220 crore. Large fund houses participated, including SBI Mutual Fund (3.6% equity for ₹1,882 crore), Kotak Mahindra Mutual Fund (1.72% equity for ₹902 crore), and HDFC Mutual Fund (1.63% equity for ₹811 crore).
Prior to that block deal, Samayat held a 74.55% stake.
For the quarter ended December, Vishal Mega Mart reported a 17% year-on-year revenue growth to ₹3,670 crore. Ebitda rose 20% to ₹605 crore, with margins improving to 16.5% from 16.1% a year earlier. Net profit increased 19% to ₹313 crore.
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