NEW DELHI: US-based investment firm Vanguard Group has acquired a 1.1 per cent stake in Vishal Mega Mart for Rs655 crore through open market transactions, according to bulk deal data released by the NSE on Friday.
The purchase comes just days after reports suggested that the company’s promoter, Samayat Services LLP, plans to offload a significant 10 per cent stake via a Rs5,057 crore block deal.
Vanguard, through its affiliates, bought over 5.04 crore equity shares of the Gurugram-based retail chain in two tranches, signaling rising institutional interest in the company at a time when its promoters are looking to pare their holding.
Shares of Vishal Mega Mart rose 2.12 per cent on Friday to close at Rs128.80 apiece on the NSE, following Vanguard’s stake acquisition.
Promoter sale at a discount
According to a report by CNBC-TV18 earlier this week, Samayat Services LLP, which held 74.55 per cent stake in Vishal Mega Mart as of March 31, 2025, is expected to sell 10 per cent equity in the company via block deals on Tuesday.
The proposed deal is estimated at Rs5,057 crore, with the shares likely to be offered at a floor price of Rs 110 per share – representing a discount of nearly 12 per cent to Monday’s closing price of Rs 124.90.
On the day the block deal plan was reported, the stock closed marginally higher, ending with a gain of Rs1.15 or 0.93 per cent.
A signal of confidence?
While large promoter offloads can sometimes raise questions about long-term commitment, Vanguard’s entry could be interpreted as a vote of confidence in Vishal Mega Mart’s future. The retail chain has been actively expanding in tier-2 and tier-3 markets, and has drawn growing attention from institutional investors eyeing India’s consumption growth.
Whether the full 10 per cent stake finds buyers will be known next week, but Vanguard’s move may already have set a positive tone.
