Other Deals - Listed Firms
Promoters sell 20% stake in Vishal Mega Mart for Rs.10,220-Cr
The promoters of Gurugram-based Vishal Mega Mart have sold 90 crore shares (19.6 % stake) in the hypermarket retailer for around INR 10,220.4 crore.Promoter firm Samayat Services LLP sold 45 crore shares at INR 113.51 apiece and another lot of 45 crore for INR 113.61 each. Samayat, which held 74.55% stake in the company at the end of March, is an investment vehicle jointly owned by private equity firms Kedaara Capital and Partners Group.Initially, the promoters had intended to offload about 10% stake, but significant demand from local mutual funds led them to upsize and double the stake on offer. The floor price was set at INR 110 per share.
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