Avenue Supermarts Ltd

Avenue Supermarts Ltd

Avenue Supermarts was incorporated as Avenue Supermarts Private Limited on May 12 2000 at Mumbai Maharashtra as a Private Limited Company under the Companies Act 1956. Subsequently name of the Company was changed to Avenue Supermarts Limited due to conversion from a Private Company to a Public Company pursuant to a Special Resolution passed by the Shareholders at an ExtraOrdinary General Meeting held on February 1 2011. Pursuant to the aforesaid change of name a fresh Certificate of Incorporation was issued to the Company by the RoC on May 3 2011.Avenue Supermarts Limited (DMart) is a national supermarket chain with a focus on value-retailing. The Company offer a wide range of products with a focus on the Foods Non-Foods (FMCG) and General Merchandise & Apparel product categories. Since launching of first store in 2002 in Mumbai Maharashtra DMart has grown to 284 stores with a retail business area of 11.5 million sq. ft. spread across Maharashtra (88) Gujarat (48) Telangana (31) Karnataka (29) Andhra Pradesh (23) Madhya Pradesh (17) Tamil Nadu (15) ajasthan (10) Punjab (9) NCR (7) Chhattisgarh (6) and Daman (1).The supermarket chain of DMart stores is owned and operated by Avenue Supermarts Ltd. (ASL). The company has its headquarters in Mumbai. The brands D Mart D Mart Minimax D Mart Premia D Homes Dutch Harbour etc are brands owned by ASL. DMart is a one-stop supermarket chain that aims to offer customers a wide range of basic home and personal products under one roof. Each DMart store stocks home utility products - including food toiletries beauty products garments kitchenware bed and bath linen home appliances and more - available at competitive prices. The company's core objective is to offer customers good products at great value.DMart was started by Mr. Radhakishan Damani and his family to address the growing needs of the Indian family. From the launch of its first store in Powai in 2002 DMart today has a well-established presence in 154 locations across Maharashtra Gujarat Andhra Pradesh Madhya Pradesh Karnataka Telangana Chhattisgarh NCR Tamil Nadu Punjab and Rajasthan.In 2007 DMart entered Gujarat with its first store in the state. In 2010 the total store count of our company crossed 25 stores and the audited consolidated revenue crossed Rs 1000 crore mark. In 2012 the store count of the company crossed 50 stores. In 2014 the store count of our company increased to 75 stores. In 2015 audited consolidated revenue of the company crossed Rs 5000 crore mark. In 2016 the store count of our company increased to 110 and the consolidated revenues crossed Rs 7500 crore mark. On 30 September 2016 the company filed Draft Red Herring Prospectus and on 2 March 2017 filed Red Herring Prospectus with SEBI for raising Rs. 1870 crore. The IPO was open through the book building route from 8 March 2017 to 10 March 2017 with Price Band of Rs 295 to Rs 299 per share. The Issue got subscribed 73.41 times leading to its Issue Price being fixed at Rs 299 per share. The Shares got listed on BSE and NSE on 21 March 2017. The stock debuted at Rs 604.40 on BSE which is 102.14% above issue price.On 2 February 2018 Avenue Supermarts (ASL) acquired 4.35 crore equity shares of Rs 10 each fully paid-up of Avenue E-Commerce Limited aggregating to Rs 49.21 crore. Pursuant to this Avenue E-Commerce Limited became a wholly-owned subsidiary of Company. During 2018-19 21 new stores were opened taking the count to 176 stores.As of 31st March 2019 DMart had 176 stores with retail business area of 5.9 million sq.ft.In 2019-20 Avenue Supermarts opened 38 new stores during the year.In FY 2020-21 22 new stores were added and two of the older stores were converted in fulfillment center for its Subsidiary Company Avenue E-commerce Limited. As of March 31 2021 Company had 39 distribution centres and 7 packing centres.During the year 2021-22 Company expanded operations by adding a record of 50 new stores. It expanded service coverage to include over 500 pin codes in 9 cities Mumbai Metropolitan Region Pune Bangalore Hyderabad Ahmedabad Surat Vadodara Bhopal and Indore. As of 31st March 2022 Company had 40 distribution centres and 7 packing centres.During the year 2022-23 Company expanded operations by adding 40 new stores with a total of 324 stores as of 31st March 2023.