Avenue Supermarts Limited agreed to acquire 26% stake in Fp Ampere Energy Private Limited from Fourth Partner Energy Private Limited for INR 20 million.

Avenue Supermarts Limited (NSEI:DMART) agreed to acquire 26% stake in Fp Ampere Energy Private Limited from Fourth Partner Energy Private Limited for INR 20 million on March 16, 2024. The consideration consists of INR 20 million in cash. As part of the consideration, INR 20 million was paid towards common equity.

The transaction has been approved by the Board of Directors of Avenue Supermarts. Completion is subject to signing of transaction documents. The transaction is expected to be completed by December 31, 2024.