Vanguard group purchases 1.1% stake in Vishal Mega Mart for ₹655 crore

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

Following the stake buy, shares of Vishal Mega Mart rose 2.12% to close at ₹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% stake in Gurugram-based Vishal Mega Mart, as per bulk deal data on the NSE.

The shares were acquired at an average price of ₹129.74 apiece, taking the combined deal value to ₹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% stake in the company for ₹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% stake in Westlife Foodworld, owner-operator of McDonald's restaurants across West and South India, for ₹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 ₹696.55 per share.

This took the deal value to ₹104.54 crore.

Meanwhile, HDFC Mutual Fund bought 14.30 lakh shares or 0.92% stake in Westlife Foodworld for ₹99.65 crore.

Details of the other buyers of Westlife Foodworld's shares could not be identified on the exchange.

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

According to the data, the shares were acquired at an average price of ₹310.17 apiece.

Details of the sellers of the India Cements' shares could not be ascertained on the bourse.