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HomeMarket NewsStocks NewsVishal Mega Mart Block Deal | Samayat Services likely to sell 6.5% stake worth ₹3,508 crore
The floor price for the block deal has been set at ₹115 per share, representing a discount of 9.8% to the current market price. Shares of Vishal Mega Mart Ltd ended at ₹127.50, up ₹4.65, or 3.79%, on the BSE today, February 26.
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Samayat Services LLP is likely to sell up to 6.5% stake in supermart major Vishal Mega Mart Ltd through a block deal, sources privy to the development told CNBC-TV18. The offer size for the stake sale is ₹3,507.5 crore, the sources said.
The floor price for the block deal has been set at ₹115 per share, representing a discount of 9.8% to the current market price, they added. The shares sold through the block deal will be subject to a lock-in period of 150 days.
Third quarter results
Vishal Mega Mart's net profit rose 19.1% to ₹312.9 crore, up from ₹262.7 crore in the same period last year. The company's revenue grew 17% to ₹3,670 crore from ₹3,135.9 crore in Q3FY25.
Also Read: Vishal Mega Mart shares may see further supply with a major deal in the offing: Exclusive
EBITDA increased 20% to ₹605.4 crore, compared with ₹504.5 crore a year earlier, while margins improved to 16.5% from 16.1% YoY, highlighting improved operational efficiency. Adjusted same-store sales growth (SSSG) stood at 9.6%, after accounting for a 2.1% adverse impact in Q3 due to the early onset of Durga Puja festivities to Q2 this year.
According to the exchange filing, the company added 29 gross new stores in the quarter, with no closures, taking the nine-month total to 80 new stores. Expansion continues across strategic states such as Kerala, Gujarat, and Maharashtra.
Vishal Mega Mart Managing Director and CEO, Gunender Kapur, said, "We saw healthy festive demand across all product categories. Our unique range of merchandise, especially our strong portfolio of own brands and leadership in opening price points, continued to translate into healthy footfalls across stores. The company sustained momentum on its accelerated store rollout plan."
Also Read: Vishal Mega Mart Q2 profit soars 46% to ₹152 crore; opens 28 new stores
"We believe India is poised for the next wave of consumption growth, aided by initiatives such as GST rate rationalisation and reforms in direct taxation, and are optimistic about the positive impact these changes could have on our business in the years to come," he added.
Shares of Vishal Mega Mart Ltd ended at ₹127.50, up by ₹4.65, or 3.79%, on the BSE today, February 26.
(Edited by : Shoma Bhattacharjee)
