Vishal Mega Mart Ltd. Shares Decline Following Large Block Deal

Key Figures:

• ₹7,500 crore: Value of the block deal transaction
• 14.2%: Equity stake sold in the secondary market transaction
• ₹3,508 crore: Initial expected value of the block deal
• ₹115: Price per share in the initial term sheet
• ₹117.80: Intraday low stock price on Friday
• 54.09%: Promoter entity Samayat Services LLP's stake in Vishal Mega Mart as of December-end
• 150 days: Proposed lockup period for offloaded shares

Transaction Details

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On Friday, shares of Vishal Mega Mart Ltd., a fashion-focused hypermarket chain, declined following a large block deal. The transaction involved the sale of approximately 14.2% of the company's equity, valued at around ₹7,500 crore. Initially, the sale was expected to represent a 6.5% stake in the company, with 305 million shares being sold at ₹115 each, as per the term sheet.

Promoter Entity and Advisors

The block deal was advised by Kotak Securities Ltd. and Morgan Stanley India Co. The offloaded shares will carry a proposed lockup period of 150 days. Samayat Services LLP, backed by Kedaara Capital, had planned to sell up to 305 million shares at ₹115 each, which would have valued the block at ₹3,508 crore.

Company Performance

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As of December-end, Samayat held a 54.09% stake in Vishal Mega Mart. The company reported a 17% year-on-year revenue growth to ₹3,670 crore for the quarter ended December. Ebitda rose 20% to ₹605 crore, with margins improving to 16.5% from 16.1% a year earlier. Net profit increased 19% to ₹313 crore.

Recent Liquidity Events

This transaction represents another liquidity event for Samayat, which was originally backed by Kedaara Capital and Partners Group. The company had listed in December 2024 through a pure offer-for-sale, offloading shares worth ₹8,000 crore. In June 2025, Samayat sold 900 million shares, representing a 19.6% stake, for ₹10,220 crore. Large fund houses participated in the transaction, including SBI Mutual Fund, Kotak Mahindra Mutual Fund, and HDFC Mutual Fund.