Damani, other DMart promoters to offload 2.3% stake through OFS

Following the share sale, Avenue Supermarts, which operates the Dmart retail chain, will become compliant with the 25 per cent public shareholding norms

Promoters of Avenue Supermarts will offload 2.28 per cent stake (14.8 million shares) through the offer for sale (OFS) route on Friday. The base price for the share sale has been set at Rs 2,049, a discount of 19.4 per cent to the current market price. 

Shares of Avenue Supermarts last closed at Rs 2,542.3, up 2.5 per cent, on the BSE. At the base price, the promoters of the company will be able to mop up over Rs 3,000 crore. Among the selling promoters are Radhakishan Damani, Gopikishan Damani, Shrikantadevi Damani, and Kirandevi Damani.

Following the share sale, Avenue Supermarts, which