Avenue Supermarts’ (ASL) shareholding in Avenue E-Commerce has been reduced from 100% to 99.66%. This is pursuant to the allotment of shares on preferential basis by Avenue E-Commerce to ASL and other applicants of the issue. Accordingly, Avenue E-Commerce becomes a subsidiary of ASL.
Avenue Supermarts is a Mumbai-based company, which owns and operates DMart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof.