Billionaire Radhakishan Damani, one of India’s richest persons, on Tuesday bought more than 2.22 lakh shares of Hyderabad-based VST Industries, pushing his stake in the cigarette-manufacturer to a little over 32%.
According to Mint, which cited data from the Bombay Stock Exchange (BSE), the share purchase by Damani, achieved through his investment vehicle Derive Trading and Bright Star, was done at an average of ₹3390 per share. This resulted in an additional 1.44% stake for the D-Mart founder and owner, and 32.14% overall.
Besides Damani, State Bank of India Mutual Fund (SBIMF) too acquired shares (2.25 lakh) in VST Industries, also at an average of ₹3390 per share.
D-Mart Q3 business update
Meanwhile, as per Moneycontrol, Damani’s Avenue Supermarts, the parent firm of the D-Mart retail chain, announced in an exchange filing on Tuesday, that its standalone revenue from the quarter ended December 2023 stood at ₹13,247.33 crore, an increase of 17.19% from ₹11,304.58 crore revenue in the same quarter in the previous year.
Avenue Supermarts, however, noted in the filing that the ₹13,247.33 revenue is subject to a ‘limited review’ by its statutory auditors.
The company added that the total number of D-Mart retail stores in the country, as of December 31, 2023, stood at 341.
