American Funds Ins Series GGI Fund sold 67.6 lakh shares, or 1.04% of the company’s equity, for ₹2,537.13 crore. The shares were sold at an average price of ₹3,750.58 per share on the BSE, while details of the buyers were not immediately known.
At the prevailing market price, the transaction is estimated to be worth around ₹2,600-2,700 crore. Avenue Supermarts shares were trading at around ₹3,781, down 3.3% from the previous close, in afternoon trade.
At the current market price, the retailer has a market capitalisation of around ₹2.47 lakh crore.
The stock’s decline comes after Avenue Supermarts reported a healthy set of first-quarter numbers last month, with both profit and revenue recording double-digit year-on-year growth.
The company’s consolidated net profit for Q1 FY27 rose 11.3% YoY to ₹860.6 crore, compared with ₹773 crore in the year-ago quarter. Revenue from operations increased 14.9% YoY to ₹18,794 crore, from ₹16,359 crore in Q1 FY26.
EBITDA stood at ₹1,499 crore, compared with ₹1,299 crore a year earlier.
However, the company’s outlook on store expansion and the competitive environment in retail has remained a key focus for investors.
During its analyst meet, DMart management indicated that it plans to increase its store count by around 15% of the existing base, translating to roughly 75 new stores. That was slightly below street expectations of around 80-100 additions.
Management also described quick commerce as a structural threat to the business. Analysts attending the meeting told CNBC-TV18 that the company did not expect a significant revival in same-store sales growth in the coming years, adding to the concerns around its growth trajectory.
