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US-based financial services company Capital Group has sold a 1.04% stake in Avenue Supermarts Ltd, the parent company of retail chain D-Mart, for INR 2,537.12 crore through an open market transaction. Its affiliate, American Funds Insurance Series Global Growth and Income Fund, sold 67,64,623 equity shares of the Mumbai-based company at an average price of INR 3,750.58 per share. The buyers could not be identified from the BSE bulk deal data. Avenue Supermarts shares closed 2.28% lower at INR 3,822 on the BSE.
Capital Group, through its affiliate American Funds Insurance Series Global Growth and Income Fund, sold 67,64,623 equity shares of Avenue Supermarts, representing a 1.04% stake in the parent company of D-Mart, according to bulk deal data on the BSE.
The shares were sold at an average price of INR 3,750.58 apiece, taking the total transaction value to INR 2,537.12 crore. Details of the buyers were not available from the stock exchange data.
Avenue Supermarts shares declined 2.28% to close at INR 3,822 apiece on the BSE. The stake sale comes after Avenue Supermarts reported an 11.33% year-on-year rise in consolidated net profit to INR 860.44 crore for the June quarter of FY27. The company had recorded a consolidated net profit of INR 772.81 crore in the corresponding quarter of the previous fiscal.
Revenue from operations increased 14.9% year-on-year to INR 18,794.53 crore during the quarter, compared with INR 16,359.70 crore in the April-June period of the previous fiscal.
The stake sale by Capital Group adds to the recent trading activity around Avenue Supermarts, while the company continues to report higher profit and revenue from its core retail operations. The transaction itself does not indicate the reason behind the investor’s decision to reduce its holding, as no such details were available in the bulk deal information. For Avenue Supermarts, the focus remains on sustaining growth in revenue and profitability as D-Mart continues to expand its retail presence across India.
Source PTI
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