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Avenue Supermarts promoter to sell up to 1% stake, to meet MPS norm

Avenue Supermarts promoter Radhakishan Damani will sell up to 1% stake in the company, via open market transaction.

The company stated, “Promoter Radhakishan Shivkishan Damani has conveyed his intention to sell the equity shares of the company to comply with the requirements of minimum public shareholding (MPS).”

Damani is proposing to divest up to 1% of the total paid up equity share capital of the company, aggregating to 6,240,844 shares. The divestment process will be completed during May 21 to June 14, 2018 or the actual date of completion of sale of all equity shares, whichever is earlier.

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