Avenue Supermarts (NSE:DMART, BOM:540376) is looking to raise up to 10 billion Indian rupees through the issuance of domestic bonds, Bloomberg News reported Tuesday, citing sources familiar with the matter.

The supermarket operator, which owns the DMart stores, has approached bankers regarding the rupee bond issue to finalize details such as the tenor and coupon, the report said.

The proceeds from the bond sale, the company's first since October 2019, will fund capital expenditure, including opening new stores, according to the report.

Avenue Supermarts did not immediately respond to MT Newswires' request for comment.

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