India's Vishal Mega Mart slumps on report of promoter's discounted share sale

Vishal Mega Mart

17/06/2025 05:19

** India's Vishal Mega Mart VSSL.NS sheds 5.5% to 117.98 rupees

** Top shareholder Samayat Services to sell stake worth 50.57 bln rupees ($588.6 mln) in VSSL via block deals, CNBC-TV18 reports

** Stake sale at floor price of 110 rupees apiece, a 12% discount to co's closing price on Monday

** Samayat, which holds 74.55% stake in VSSL, will offload 10% of its holding via the share sale- report

** VSSL and Samayat did not immediately respond to Reuters requests for comment

** Stock trims YTD gains to ~11%

($1 = 85.9100 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))