June 26 (Reuters) - MNC Capital has increased its bid to acquire sporting and outdoor goods company Vista Outdoor to $3.2 billion, or $42 per share, the investment firm said on Wednesday.

Vista Outdoor's shares were up about 13% to $38 in premarket trading.

Earlier in June, MNC Capital raised its offer for Vista to $39.50 per share, after its previous bid of $37.50 per share was rejected, saying it undervalued the company and its performance gear business Revelyst.

Vista did not immediately respond to a Reuters request for comment. (Reporting by Granth Vanaik in Bengaluru; Editing by Shounak Dasgupta)