Avenue Supermarts extends gain as founder RK Damani completes 1% stake sale

The stock was up 5% to Rs 1,476, extending its Thursday's 3.3% gain on the BSE

Shares of Avenue Supermarts that runs the D-Mart retail stores was trading higher by 5% at Rs 1,476, extending its Thursday’s 3.3% gain on the BSE, after the founder Radhakishan Damani completed sale of 6.24 million shares, or 1%, of total equity of the company for achieving minimum public share holding.

“Radhakishan Shivkishan Damani has completed sale of 6.24 million equity shares of the Company, constituting 1% of the paid-up equity share capital of the Company, between May 21, 2018 and May 24, 2018,” Avenue Supermarts said in a BSE filing.

Post transaction, RK Damani holding in Avenue