By Admin 
Vishal Mega Mart: Vishal Mega Mart Ltd’s promoter company Samayat Services (to which Kedaara Capital and Partners Group) has recently sold its 14 percent stake for Rs 7635 crore.
Who took part in the block deal?
Singapore Government, HDFC Mutual Fund and Monetary Authority of Singapore participated in this block deal. After selling the stake, the holding of Samayat Services LLP in Vishal Mega Mart (VMM) reduced from 54.09 percent to 40.13 percent. Meanwhile, HDFC Mutual Fund (MF), Government of Singapore and Monetary Authority of Singapore have jointly bought shares of the supermarket chain.
The Singapore government has bought over 12.69 crore shares or 2.72 per cent stake in Vishal Mega Mart (VMM), while HDFC MF bought 9.40 crore shares, equivalent to 2.01 per cent equity stake, and the Monetary Authority of Singapore bought about 7.33 crore shares or 1.57 per cent in VMM.
huge fall in shares
After this news of block deal on Friday, a huge fall was seen in the shares. Shares fell by 7 percent in early trade. After opening at Rs 118.83 in the morning, it touched its lowest level of Rs 117. It is being told that in the block deal, shares were traded at the floor price of Rs 115 per share.
IPO launched for the first time in 2024
In June last year, Samayat Services LLP had sold 19.6 percent stake in Vishal Mega Mart for Rs 10,220.40 crore. For the first time in 2024, the company had brought its IPO of Rs 8000 crore. It was completely offer-for-sale.
In 2018, Kedaara Capital and Partners Group had bought Vishal Mega Mart from investment firms TPG Capital and Shriram Group for about $735 million. Today, Vishal Mega Mart is a leading hypermarket chain of India, which has a network of more than 780 stores across the country. The company is known for selling fashion, items used in everyday life, skin, beauty care related products, kitchen items at affordable prices.
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