Promoters of Avenue Supermarts, which operates supermarket chain DMart, launched its ₹4,000-crore qualified institutional placement issue on Wednesday. The board approved selling 20 lakh shares through the QIP issue and fixed the floor price at ₹1,999.04 a share.
Stock market investor Radhakishan Damani-led promoters hold 80.21 per cent stake. This will help Avenue Supermarts meet SEBI’s minimum 25 per cent public shareholding norm.