Capital Group exits 1% D-Mart stake for Rs 2,537 crore
What's the deal? Capital GroupDealroom has a profile for this one. Try Dealroom → on Wednesday sold a 1.04% stake in Avenue SupermartsDealroom has a profile for this one. Try Dealroom →, the parent of Indian retail chain D-MartDealroom has a profile for this one. Try Dealroom →, for Rs 2,537.12 crore in an open market transaction. The US-based firm offloaded 67,64,623 shares at an average of Rs 3,750.58 each, according to BSE bulk deal data.
Who's involved? The sale went through Capital Group affiliate American Funds Insurance Series Global Growth and Income FundDealroom has a profile for this one. Try Dealroom →. Buyers of the Mumbai-based retailer's shares could not be ascertained from the exchange.
Market reaction: Avenue Supermarts shares fell 2.28% to close at Rs 3,822 on the BSE.
The backdrop: Last month, Avenue Supermarts reported an 11.33% rise in consolidated net profit to Rs 860.44 crore for the June quarter of FY27, up from Rs 772.81 crore a year earlier. Revenue from operations climbed 14.9% to Rs 18,794.53 crore.
The signal: A large foreign investor trimming its position, even as D-Mart posts double-digit profit and revenue growth, points to portfolio rebalancing rather than a verdict on the retailer's fundamentals.
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Image credit: Random Retail
