Samayat Services LLP, a promoter entity of Vishal Mega Mart, has sold nearly 14% of its stake in the supermarket chain for Rs 7,635 crore through open market transactions on Friday.
Samayat Services LLP — a special-purpose vehicle backed by private equity firms Kedaara Capital and Partners Group — offloaded 65.25 crore shares in two tranches, representing a 13.96% holding, according to bulk deal data from the National Stock Exchange. Following the sale, its stake in the Gurugram-based retailer fell from 54.09% to 40.13%.
Among the key buyers were institutional investors including HDFC Mutual Fund, the Government of Singapore, and the Monetary Authority of Singapore.
The Singapore government acquired over 12.69 crore shares (2.72%), HDFC Mutual Fund purchased 9.40 crore shares (2.01%), and the Monetary Authority of Singapore bought nearly 7.33 crore shares (1.57%). Together, these investors picked up more than 29.42 crore shares — about 6.3% of the company — at an average price of Rs 117 per share, translating into a total investment of Rs 3,443.17 crore. Details about other buyers were not disclosed on the exchange.
Shares of Vishal Mega Mart ended 7.59% lower at Rs 117.85 apiece on the NSE.
This is not the first stake dilution by Samayat Services LLP. In June last year, it had sold a 19.6% stake in the company for Rs 10,220.40 crore.
Back in 2018, Kedaara Capital and Partners Group acquired Vishal Mega Mart from TPG Capital and Shriram Group for around $735 million. In 2024, the two investors took the retailer public, raising Rs 8,000 crore through an IPO.
Incorporated in 2010, Vishal Mega Mart operates wholesale and cash-and-carry businesses under the ‘Vishal’ brand and also grants franchise rights. Its retail stores are run through its wholly owned subsidiary, Airplaza.
