Avenue Supermarts Limited (BSE:540376) said its promoters will sell up to a 2.28% stake through an offer for sale (OFS) that will fetch as much as $426 million. Promoters Radhakishan Damani, Gopikishan Damani, Shrikantadevi Damani and Kirandevi Damani will offload a total of 14.8 million shares through the share sale, Avenue Supermarts said in a regulatory filing. The shares will be sold at a floor price of INR 2,049, a 19.5% discount to the closing price of INR 2,544.15 on February 13, 2020. The OFS will open on February 14, 2020 for institutional investors, while retail investors will be able to subscribe on February 17, 2020. Axis Capital Limited and BofA Securities, Inc. are advising DMart on the share sale.