India: DMart promoters look to sell 2.28% stake via OFS

India: DMart promoters look to sell 2.28% stake via OFS

Avenue Supermarts has been opening 10-15 D-Mart stores per annum and hopes to continue or accelerate it depending on the market, says CEO Neville Noronha. Photo: Aniruddha Chowdhury/Mint

Avenue Supermarts Ltd, which runs the supermarket chain DMart, on Thursday said its promoters will sell up to a 2.28% stake through an offer for sale (OFS) that will fetch as much as 3,032.5 crore ($426 million).

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