Promoters launch Rp30bn sell-down in Avenue Supermarts

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By Jonathan Breen
17 Feb 2020

Avenue Supermarts' founder Radhakishan Damani and his family members are looking to raise Rp30.3bn ($424.7m) from a secondary share sale, following an issue of new stock by the company last week.

Avenue runs the popular Indian supermarket chain DMart. Veteran investor Damani is selling 11.3m shares, while Gopikishan Damani is offering 1.5m, and Shrikantadevi Damani and Kirandevi Damani are selling 1m shares each. The offering represents 2.28% of the company's outstanding capital.

The same syndicate from Avenue's primary ...

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