Who’s Buying What Promoters Sold? Inside Vishal Mega Mart’s ₹10,488 Cr Shake-Up

Image Source: ET Now

A day after a miraculous ₹10,488 crore block deal, Vishal Mega Mart shares surged 5% in intraday trade before settling at ₹133.1 on the BSE. The surge came as the promoter entity Samayat Services LLP offloaded a 20% stake—about 91 crore shares—at ₹115 a share, which is below the last close.

Key Highlights:

Deal Size: ₹10,488 crore through block deal
Stake Sold: 20% of total equity (91 crore shares)
Investors: SBI MF, HDFC MF, and Kotak MF purchased over ₹3,600 crore worth of shares
Price: At ₹113.51–₹113.61, ~9% lower than market price
Market Reaction: Stocks rose 5% the next day, ignoring initial fears of selling
Promoter Holding: Samayat Services holding came down from 74.55% to ~54.5%

The timing was interesting—it arrived right at the tailend of the preIPO shareholder lockin period, unlocking more than ₹30,000 crore of equity. Investor sentiment did not care about the dilution, perhaps due to Vishal Mega Mart's robust Q4 figures: 88% YoY profit growth to ₹115.1 crore and 23% revenue growth to ₹2,547.9 crore.

Analysts cite the resilience of the stock to optimism in the company's fundamentals and growth expectations. With mutual funds stepping in as buyers, the deal may also help improve the shareholder base and liquidity.

Source: Economic Times, News18, Moneycontrol