Retail

Avenue Supermarts plans ₹1,000 crore bond sale for stores

Largest-ever domestic issue funds capex as the chain pushes new outlets against quick-commerce pressure.

Meera Iyer, Retail correspondent·27 August 2026·4 min read

Empty supermarket aisle with stacked cartons and overhead fluorescent lights

Avenue Supermarts, operator of DMart, is preparing to raise up to ₹1,000 crore through its largest domestic bond sale, people familiar said on 25 August. Proceeds will go to capital expenditure including new stores. The issue, first since 2019, carries a AAA rating from ICRA and targets tenors up to three years.

Avenue Supermarts has sounded out bankers for the ₹1,000 crore non-convertible debenture issue and is finalising tenor and coupon. Mutual funds have shown interest. The board had cleared the ₹10 billion limit earlier. This marks a return to the debt market after a seven-year gap.

Shop-floor managers care because every new store needs fit-out cash and working capital before the first till rings. A dark-store competitor can undercut on speed; DMart needs the money to keep adding square feet in metros and tier-2 towns where mature-store growth has slowed.

Proceeds will be used for capital expenditure including opening new stores.

The move helps landlords and contractors who supply the chain’s expansion pipeline. It squeezes pure-play quick-commerce players already burning cash on dark stores, while giving kirana suppliers a larger organised buyer.

Watch the first-half September launch window and any festive-season store-opening intimation filings that follow the money.

Filed under Retail·Meera Iyer

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