Vanguard group buys 1.1% stake in Vishal Mega Mart for Rs 655 crore

US-based Vanguard Group on Friday bought a 1.1 per cent stake in supermarket chain Vishal Mega Mart for Rs 655 crore through open market transactions.

Following the stake buy, shares of Vishal Mega Mart rose 2.12 per cent to close at Rs 128.80 apiece on the National Stock Exchange (NSE). Investment management company Vanguard Group, through its affiliates, purchased more than 5.04 crore equity shares in two tranches, representing a 1.1 per cent stake in Gurugram-based Vishal Mega Mart, as per bulk deal data on the NSE.

The shares were acquired at an average price of Rs 129.74 apiece, taking the combined deal value to Rs 655.16 crore. Details of the sellers of Vishal Mega Mart's shares could not be ascertained on the NSE. On Tuesday, Samayat Services LLP, one of the promoter entities of Vishal Mega Mart, divested a 19.6 per cent stake in the company for Rs 10,220.40 crore.

Samayat Services LLP is a special-purpose vehicle owned by private equity firm Kedaara Capital and Switzerland-based Partners Group. In a separate bulk deal on the NSE, Mumbai-based Hill Fort Capital divested nearly a 1 per cent stake in Westlife Foodworld, owner-operator of McDonald's restaurants across West and South India, for Rs 104 crore through an open market transaction.

As per the data, Hill Fort Capital through its arm Hill Fort India Fund LP sold 15 lakh shares of Westlife Foodworld at an average price of Rs 696.55 per share. This took the deal value to Rs 104.54 crore. Meanwhile, HDFC Mutual Fund bought 14.30 lakh shares or 0.92 per cent stake in Westlife Foodworld for Rs 99.65 crore.

Details of the other buyers of Westlife Foodworld's shares could not be identified on the exchange. On Friday, the scrip of Westlife Foodworld went up 0.54 per cent to settle at Rs 700 apiece on the NSE.

In another transaction on the NSE, Franklin Templeton Mutual Fund purchased 20.37 lakh shares or 0.66 per cent stake in India Cements, an UltraTech Cement company, for Rs 63.19 crore.

According to the data, the shares were acquired at an average price of Rs 310.17 apiece. Details of the sellers of the India Cements' shares could not be ascertained on the bourse.

The scrip of the India Cements dipped 2.38 per cent to end at Rs 312 apiece on the NSE.