Major Stake Shuffle: Vishal Mega Mart's Significant Ownership Changes

Samayat Services LLP divested a 14% stake in Vishal Mega Mart, reducing its holding from 54.09% to 40.13%. The sale raised Rs 7,635 crore, with significant purchases by HDFC Mutual Fund, the Singapore government, and the Monetary Authority of Singapore. VMM's market valuation fell following the transaction.

Samayat Services LLP, an essential promoter of Vishal Mega Mart, executed a major stake sale on Friday. The firm divested nearly 14% of its holding in the supermarket chain via open market deals for a substantial Rs 7,635 crore. Following this transaction, Samayat's ownership dipped from 54.09% to 40.13%.

The divestment saw 65.25 crore shares offloaded in two tranches, priced between Rs 117 to Rs 117.03 each. The sale attracted major investors like HDFC Mutual Fund, which acquired 9.40 crore shares for a 2.01% stake, while the Singapore government and the Monetary Authority of Singapore collectively purchased 20.02 crore shares, enhancing their presence in VMM by a combined 4.29%.

Shares witnessed a decline of 7.59%, closing at Rs 117.85 on the NSE. This comes after Samayat had previously sold a 19.6% stake in 2022. Vishal Mega Mart, a significant player in wholesale and franchise operations, has been a critical investment for Kedaara Capital and Partners Group since its acquisition in 2018.