1 week ago
Capital Group Sells 1.04% Stake in D-Mart Parent
Capital Group sold some of its shares in Avenue Supermarts, the company that owns D-Mart.
The shares represented 1.04% of the company.
The sale was worth about ₹2,537 crore.
An affiliated fund sold more than 67 lakh shares.
The shares were sold for an average of ₹3,750.58 each.
The buyers were not identified in the available exchange data.
Avenue Supermarts shares ended lower on the BSE that day.
The company had recently reported higher profit and revenue for the June quarter.
Capital Group sold a 1.04% stake in Avenue Supermarts, D-Mart's parent, for ₹2,537.12 crore.
Its affiliate American Funds Insurance Series Global Growth and Income Fund sold 67,64,623 shares.
The shares were sold at an average price of ₹3,750.58 each through an open-market transaction.
The buyers were not identified in the bulk deal data available from the BSE.
Avenue Supermarts reported an 11.33% rise in June-quarter net profit to ₹860.44 crore.
- Who
- Capital Group, through American Funds Insurance Series Global Growth and Income Fund, sold shares in Avenue Supermarts.
- What
- A 1.04% stake, comprising 67,64,623 shares, was sold for ₹2,537.12 crore.
- Where
- The transaction took place through the open market on the BSE; Avenue Supermarts is based in Mumbai.
- When
- Wednesday, August 26; the article also refers to the company's June-quarter results reported the previous month.
- Why
- The article reports the stake divestment but does not state Capital Group's reason for selling.
Key facts
- Seller
- Capital Group, through American Funds Insurance Series Global Growth and Income Fund
- Company
- Avenue Supermarts Ltd, parent of D-Mart
- Stake sold
- 1.04%
- Shares sold
- 67,64,623 equity shares
- Deal value
- ₹2,537.12 crore
- Average sale price
- ₹3,750.58 per share
- Closing share price
- ₹3,822, down 2.28% on the BSE
- June-quarter net profit
- ₹860.44 crore, up 11.33% year-on-year
Sources
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