Nuvama expects Vishal Mega to be a strong contender for inclusion in the MSCI Index in August, which could lead to inflows of around $225 million. The announcement is expected on August 8.
“Following the 20% promoter stake sale, MSCI is expected to revise the free float upwards, increasing the likelihood of the stock’s inclusion in the MSCI August 2025 review,” said Abhilash Pagaria, head of Nuvama Alternative. Currently, Vishal Mega is a part of the FTSE Russell Universe.
Samayat Services sold shares of Vishal Mega Mart worth ₹10,220.4 crore in a bulk deal on NSE on Tuesday. The promoter group entity sold 90 crore shares at ₹113.6 apiece, representing 19.6% of the company’s total equity. As of March 31, Samayat Services LLP owned a 74.6% stake in the company. The stock fell 3.2% on Wednesday to close at ₹122.7.
Promoter stake sales increase a stock’s free float, making it eligible for inclusion or a higher weight in global indices like MSCI and FTSE. When a stock is brought into global indices, passive funds like ETFs, whose portfolios mimic these benchmarks, must purchase the shares in line with the revamp.
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In the last month, Vishal Mega Mart shares shed 2.4% while the Nifty Midcap 100 Index gained 1.8% in the same period.
