Avenue Supermarts Limited (BSE:540376) signed an agreement to acquire remaining 50.8% stake in Avenue E-Commerce Limited for approximately INR 500 million on January 25, 2018. Under the terms of transaction, Avenue Supermarts Limited will acquire remaining 43.6 million shares for INR 492.1 million. Upon completion, Avenue E-Commerce Limited will become a wholly owned subsidiary of Avenue Supermarts Limited. For the year ended March 31, 2017, Avenue E-Commerce Limited reported revenue of INR 12.1 million. The transaction is not subject to approval from government or regulatory approval. The transaction has been approved by the Board of Avenue Supermarts Limited. The transaction is expected to be completed on or before February 15, 2018. B S R & Associates LLP acted as valuer in the transaction. Avenue Supermarts Limited (BSE:540376) completed the acquisition of the remaining 50.8% stake in Avenue E-Commerce Limited on February 2, 2018.