New Delhi, June 17 -- Shares of diversified retailer Vishal Mega Mart plunged nearly 8% in the early morning trade on Tuesday, June 17, amid reports of a likely block deal on the counter, wherein equity worth Rs.10,488 crore changed hands.

According to CNBC-TV18, 91 crore shares, or 19.82% equity, of Vishal Mega Mart, worth Rs.10,488 crore, changed hands at Rs.115 apiece via block deals, a 7.9% discount to the last closing price of Rs.124.90.

The Vishal Mega Mart block deal was upsized from earlier, CNBC-TV18 reported. Earlier, promoters were likely to pare down their stake by selling 10% stake to raise Rs.5,057 crore. However, the deal size was raised, with promoters looking to sell nearly a 20% stake for Rs.9,896 crore

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