Vishal Mega Mart shares crash 8% amid ₹10,488 crore block deal; promoters likely sellers

Vishal Mega Mart block deal: Shares of diversified retailer Vishal Mega Mart plunged nearly 8% in the early morning trade on Tuesday, June 17, amid reports of a likely block deal on the counter, wherein equity worth ₹10,488 crore changed hands.

According to CNBC-TV18, 91 crore shares, or 19.82% equity, of Vishal Mega Mart, worth ₹10,488 crore, changed hands at ₹115 apiece via block deals, a 7.9% discount to the last closing price of ₹124.90.

The Vishal Mega Mart block deal was upsized from earlier, CNBC-TV18 reported. Earlier, promoters were likely to pare down their stake by selling a 10% stake to raise ₹5,057 crore. However, the deal size was raised, with promoters looking to sell nearly a 20% stake for ₹9,896 crore.

The mid-cap company's promoters are the latest to join the block deal trend that has been visible in the Indian stock market. A swift rebound in Indian equities saw proceeds from block trades and secondary offerings top $5 billion in May, the most since March 2024, according to a Bloomberg report.

Vishal Mega Mart's block deal comes on the heels of an initial public offering in December, which was entirely an offer for sale by the promoters worth ₹8,000 crore.

As of the March 2025 quarter, promoters held a 74.55% stake in the company.

Vishal Mega Mart share price trend

Following the ₹10,488 crore block deal, Vishal Mega Mart's share price cracked 7.8% to hit the day's low of ₹115.10. However, year-to-date, the mid-cap stock is up 12%.

The company for the last concluded quarter, ended March 2025, reported an 88% year-on-year (YoY) jump in profit to ₹115.1 crore, while its revenue from operations rose 23% YoY to ₹2,548 crore.

The EBITDA margin stood at 14% in the said quarter as against 12.1% in the year-ago quarter.

Around 10.10 am, Vishal Mega Mart share price stood at ₹119.10, down 4.64%.

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