Latest news with #FTSEGlobalMidCapIndex
News18
5 days ago
- Business
- News18
Vishal Mega Mart To Join FTSE Global Mid Cap Index On June 20
Vishal Mega Mart is set to be included in the FTSE Global Mid Cap Index on June 20, following a significant promoter stake sale 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
Time of India
5 days ago
- Business
- Time of India
Vishal Mega Mart set to join FTSE Global Mid Cap Index on June 20
Mumbai: Vishal Mega Mart is set to be included in the FTSE Global Mid Cap Index on June 20, following the stake sale by promoters earlier this week. The inclusion could lead to inflows of around $115 million, according to Nuvama Alternative estimates. 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. Agencies "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. Live Events In the last month, Vishal Mega Mart shares shed 2.4% while the Nifty Midcap 100 Index gained 1.8% in the same period.
