Capital Group Sells 1% Stake in D-Mart for Rs 2,537 Cr

New Delhi: Financial services company Capital Group on Wednesday divested a 1.04 per cent stake in Avenue Supermarts Ltd, the parent of retail chain D-Mart, for Rs 2,537 crore through an open market transaction.

US-based Capital Group, through its affiliate American Funds Insurance Series Global Growth and Income Fund, sold 67,64,623 equity shares, representing a 1.04 per cent stake in Mumbai-based Avenue Supermarts, as per bulk deal data on the BSE.

The shares were offloaded at an average price of Rs 3,750.58 apiece, taking the deal size to Rs 2,537.12 crore.

Details of Avenue Supermarts’ share buyers could not be ascertained from the bourse.

Shares of Avenue Supermarts fell 2.28 per cent to close at Rs 3,822 apiece on the BSE.

Last month, Avenue Supermarts reported an 11.33 per cent increase in its consolidated net profit to Rs 860.44 crore for the June quarter of FY27.

The company had posted a net profit of Rs 772.81 crore in the April-June period a year ago, according to a regulatory filing.

Its revenue from operations was up 14.9 per cent at Rs 18,794.53 crore during the quarter under review, compared to Rs 16,359.70 crore in the corresponding quarter of the last fiscal.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)