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AEL was incorporated on 11th November, 2014 and is engaged in the business of online and multi-channel grocery retail under the brand name ‘DMart Ready’. Its turnover was Rs 2,899.20 crore in FY24.
AEL will utilize these funds towards its operational, working capital and capex requirements.
The company has subscribed 4,67,78,000 shares of AEL at face value of Rs 10 each at Rs 37.41 per share, for an amount aggregating to Rs 174.99 crore. The said shares were issued by AEL on preferential basis to the company.
In AEL, the promoter’s shareholding prior to the acquisition was at 99.71% and post transaction, the shareholding stood at 99.74%
The said investment is a related party transaction as Manjri Chandak, director and promoter group of the company, is also a director in AEL.
Mumbai-based Avenue Supermarts owns and runs the popular D-Mart stores, a national supermarket chain offering a variety of home and personal products. As of 31 December 2024, the company had 387 operating stores with Retail Business Area of 16.1 million sq. ft across Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh and Daman.
Avenue Supermarts (Dmart) reported 4.8% increase in consolidated net profit to Rs 723.72 crore in Q3 FY25 as compared with Rs 690.61 crore in Q3 FY24. Revenue from operations jumped 17.7% YoY to Rs 15,972.55 crore in Q3 FY25.
The counter rose 0.35% to settle at Rs 3,845.55 on Wednesday, 19 March 2025.
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