Avenue Supermarts Invests Rs. 174 Crores in Subsidiary Company, Avenue E-Commerce Limited

Avenue Supermarts Limited has invested an amount of Rs. 174,99,64,980/- by subscribing to 4,67,78,000 equity shares of Rs. 10/- each of its subsidiary, Avenue E-Commerce Limited (AEL) at an issue price of Rs. 37.41/- per share. The funds will be utilized by AEL towards its operational, working capital and capex requirements. AEL, incorporated in 2014, is engaged in the business of online and multi-channel grocery retail under the brand name ‘DMart Ready’. The turnover of AEL for the last 3 financial years is as follows: 2023-24: Rs. 2,899.20 Crores, 2022-23: Rs. 2,202.03 Crores, 2021-22: Rs. 1,667.21 Crores.