Avenue Supermarts, which operates the DMart chain of stores, saw 6.76 million shares change hands on Wednesday for nearly Rs 2,600 crore through a block deal.
American Funds Exits
American Funds Insurance Series Global Growth and Income Fund exited the company, selling its entire 1.04% stake at Rs 3,750.58 a share at a discount of 4.1% to Tuesday’s closing price of Rs 3,911.05 apiece. The buyer’s name was not disclosed, according to exchange data.
Shares of Avenue Supermarts, fell more than 4% intra-day on Wednesday on the BSE in response to the block deal, closing trade down 2.28% to the previous day’close to Rs 3,822 apiece.
At the end of the April-June quarter, promoter entities held a 74% stake in Avenue Supermarts, while public shareholders held the remaining 26%, according to shareholding information available on the stock exchanges.
The block deal comes a little over a month after the DMart operator reported its June-quarter earnings. Avenue Supermarts posted a 12.8% year-on-year rise in standalone net profit to Rs 935.8 crore for the first quarter of FY27, while revenue from operations increased 15.1% to Rs 18,343.5 crore.
However, like-for-like growth slowed sharply to 5.5% in the quarter from 10.8% in Q4 FY26 and 7.1% in the year-ago period, pointing to weaker growth at mature stores.
Following the results, brokerages remained cautious on the stock, citing slowing same-store sales growth and intensifying competition from quick-commerce platforms in key metro markets as major concerns, even as operating profitability remained resilient.