Avenue Supermarts has invested an amount of Rs 100 crore by subscribing to 28,969,000 equity shares of Rs 10 each of Avenue E-Commerce (AEL), a subsidiary of the Company at an issue price of Rs 34.52 per share (including a premium of Rs 24.52 per share) on preferential basis. These funds shall be utilised by AEL towards its operational and working capital requirements.
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.
