Avenue Supermarts slips 5% post OFS launch; promoters to offload 2.3% stake

Elvera Bartels

Shares of Avenue Supermarts, the mother or father organization of supermarket chain D-Mart, slipped above five for every cent on Friday following the organization introduced its promoters will offload 2.28 for every cent stake (14.eight million shares) by the offer you for sale (OFS) route on Friday.

The foundation cost for the share sale has been set at Rs 2,049, a lower price of 19.four for every cent to the recent marketplace cost. At the foundation cost, the promoters of the organization will be equipped to mop up above Rs 3,000 crore. Amid the marketing promoters are Radhakishan Damani, Gopikishan Damani, Shrikantadevi Damani, and Kirandevi Damani.

The inventory, on the other hand, pared some of its morning losses to trade above 2 for every cent decrease at Rs 2,483 apiece on the BSE at 09:forty three am. In comparison, the S&P BSE Sensex was investing around 50 percent a for

Read More