Samayat services LLP sells 19.6% stake in Vishal Mega Mart for Rs 10,220 crore

New Delhi: Samayat services LLP, a promoter group entity of Vishal Mega Mart, has sold a 19.6% stake in the retail chain through open market transactions, fetching Rs 10,220.4 crore.

The transaction involved the sale of 90 crore shares in two tranches on the National Stock Exchange (NSE). The shares were priced between Rs 113.51 and Rs 113.61 each. Following the divestment, Samayat Services LLP’s holding in the company dropped to 54.97%, down from 74.55%.

Samayat Services LLP is a special-purpose vehicle owned by private equity firm Kedaara Capital and Switzerland-headquartered investment firm Partners Group.

The stake sale saw participation from major domestic mutual funds. SBI Mutual Fund acquired 16.58 crore shares, translating to a 3.61% stake in Vishal Mega Mart. Kotak Mahindra Mutual Fund picked up 7.95 crore shares (1.73%), while HDFC Mutual Fund bought 7.50 crore shares (1.63%).

Combined, these institutional investors purchased over 32 crore shares at an average price of Rs 113.50 per share, amounting to a cumulative investment of Rs 3,636.26 crore. Details of other buyers involved in the transaction were not available in the NSE’s bulk deal data.

Shares of Vishal Mega Mart closed at Rs 129.90 on the NSE, marking a 4.04% increase from the previous trading session.

Kedaara Capital and Partners Group had jointly acquired Vishal Mega Mart in 2018 from TPG Capital and Shriram Group for approximately USD 735 million.

In 2024, the retail chain made its stock market debut through an initial public offering that raised Rs 8,000 crore.

Vishal Mega Mart operates in the wholesale and cash-and-carry segment under the ‘Vishal’ brand and also grants franchise rights. Incorporated in 2010, the company runs its retail outlets through its wholly owned subsidiary, Airplaza.