Mumbai, March 20 -- AEL was incorporated on 11th November, 2014 and is engaged in the business of online and multi-channel grocery retail under the brand name 'DMart Ready'. Its turnover was Rs 2,899.20 crore in FY24.

AEL will utilize these funds towards its operational, working capital and capex requirements.

The company has subscribed 4,67,78,000 shares of AEL at face value of Rs 10 each at Rs 37.41 per share, for an amount aggregating to Rs 174.99 crore. The said shares were issued by AEL on preferential basis to the company.

In AEL, the promoter's shareholding prior to the acquisition was at 99.71% and post transaction, the shareholding stood at 99.74%

The said investment is a related party transaction as Manjri Chandak, director ...