Promoter pares 14% stake in Vishal Mega Mart; HDFC MF, Govt of Singapore among 3 investors pick up over 6% shares
Promoter pares 14% stake in Vishal Mega Mart; HDFC MF, Govt of Singapore among 3 investors pick up over 6% shares
Promoter entity Samayat Services has pared nearly 14 percent equity stake in Vishal Mega Mart, the fashion-focused hypermarket and value retail chain, for Rs 7,635.6 crore via open market transactions on February 27. However, HDFC MF, and Government of Singapore among 3 investors picked up 6.3 percent shares.
Vishal Mega Mart shares reacted to the big stake sale by promoter, falling 7.65 percent to close at Rs 117.78 after gap-down opening, amid high volumes.
Samayat Services LLP sold 21.75 crore equity shares in Vishal Mega Mart at Rs 117 per share for Rs 2,544.75 crore, and 43.5 crore shares at Rs 117.03 per share for Rs 5,090.8 crore, taking the total stake sale to 13.96 percent of paid-up equity.