Capital Group has sold 1.04% stake in Avenue Supermarts (DMart) through an open market transaction worth around Rs 2,537.13 crore. Capital Group, through its affiliate American Funds Insurance Series Global Growth and Income Fund, has offloaded 67,64,623 equity shares of the company at an average price of Rs 3,750.58 crore.
Avenue Supermarts is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof.