Avenue Supermarts surges on investing Rs 100 crore in Avenue E-Commerce
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Avenue Supermarts is currently trading at Rs. 3704.25, up by 26.30 points or 0.72% from its previous closing of Rs. 3677.95 on the BSE.
The scrip opened at Rs. 3680.15 and has touched a high and low of Rs. 3724.00 and Rs. 3674.00 respectively. So far 3760 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4203.00 on 07-Dec-2023 and a 52 week low of Rs. 3292.65 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 3740.00 and Rs. 3649.65 respectively. The current market cap of the company is Rs. 242202.85 crore.
The promoters holding in the company stood at 74.65%, while Institutions and Non-Institutions held 16.48% and 8.88% respectively.
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.
