Avenue Supermarts promoter sold 1.48cr shares in pubic via OFS; stock up 1%

Promoter holding now stands at 74.99 percent of the total paid-up capital of the company.

Feb 19, 2020 09:02 IST India Infoline News Service

Avenue Supermarts informed the exchanges Tuesday post market hours that, Mr. Radhakishan S. Damani, Mr. Gopikishan S. Damani, Mrs.Shrikantadevi R. Damani and Mrs. Kirandevi G. Damani, being the individual promoters of the Company, have sold 1,48,00,000 equity shares of the Company constituting 2.28% of the paid-up capital ofthe Company to the public in accordance with the "Comprehensive Guidelines on Offer for Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism" issued by the Securities and Exchange Board oflndia.

The stock is trading higher by more than 1% in trade today.

Consequent to the aforesaid sale of shares, the company is now compliant with the minimum public shareholding requirements as mandated under Rules 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules, 1957 read with Regulation 38 of the Securities and Exchange Board ofindia (Listing Obligation and Disclosure Requirements) Regulations, 2015.
Stock view:
Avenue Supermarts Ltd is currently trading at Rs2,387 up by Rs21.7 or 0.92% from its previous closing of Rs2,365.30 on the BSE.

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