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 ₹655 crore through open market transactions. Following the stake buy, shares of Vishal Mega Mart rose 2.12 per cent to close at ₹128.80 apiece on the National Stock Exchange.

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 ₹129.74 apiece, taking the combined deal value to ₹655.16 crore. Details of the sellers could not be ascertained on the NSE. -PTI