American Growth Fund exits DMart in Rs 2,600-crore block deal
What Happened
American Funds Insurance Series Global Growth & Income Fund sold its entire 1.04% stake in DMart parent Avenue Supermarts through a block deal worth nearly ₹2,600 crore. Around 6.76 million shares changed hands at ₹3,750.58 apiece, a 4.1% discount to the previous closing price.
Key Takeaways
The stake sale pressured DMart shares, which ended the day over 2% lower, even as the retailer continues to post profit and revenue growth amid rising competition from quick-commerce players.