Vishal Mega Mart To Join FTSE Global Mid Cap Index On June 20
Vishal Mega Mart
Vishal Mega Mart is set to be included in the FTSE Global Mid Cap Index on June 20, following a significant promoter stake sale earlier this week. According to estimates by Nuvama Alternative, the index inclusion could lead to passive inflows of around \$115 million.
The company is also seen as a strong contender for inclusion in the MSCI Index during its upcoming August 2025 review. Nuvama projects that such a move could attract additional inflows of approximately \$225 million, with the official MSCI announcement expected on August 8.
'Following the 20% promoter stake sale, MSCI is expected to revise Vishal Mega Mart's free float upwards, increasing the likelihood of its inclusion in the August review," said Abhilash Pagaria, Head of Nuvama Alternative & Quantitative Research. Currently, Vishal Mega Mart is already part of the FTSE Russell Universe.
Earlier this week, promoter entity Samayat Services LLP offloaded shares worth Rs 10,220.4 crore through a bulk deal on the NSE. The sale involved 90 crore shares at Rs 113.6 per share, representing a 19.6% stake. As of March 31, Samayat Services held a 74.6% stake in the company. Following the deal, Vishal Mega Mart shares fell 3.2% on Wednesday to close at Rs 122.7.
Stake sales by promoters typically increase a stock's free float, thereby enhancing its eligibility for inclusion or weight increase in global indices like MSCI and FTSE. Once a stock is added to such indices, passive investment vehicles such as ETFs that track the benchmarks are obligated to buy the stock accordingly.
First Published:
June 19, 2025, 07:36 IST
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