Avenue Supermarts Limited has issued a postal ballot notice to shareholders seeking approval for the appointment of Anshul Asawa as Managing Director and Chief Executive Officer. The company announced the e-voting process will commence on January 22, 2026, and conclude on February 20, 2026, with voting results expected by February 24, 2026.

Appointment Details and Timeline

The proposed appointment covers a three-year term from April 1, 2026, to March 31, 2029. Asawa will serve as Managing Director designated as Chief Executive Officer, not liable to retire by rotation. The appointment follows his current role as CEO Designate, which he assumed on March 15, 2025, as part of the leadership transition plan.

Executive Profile and Experience

Anshul Asawa brings extensive corporate leadership experience to Avenue Supermarts. The 54-year-old executive is an alumnus of IIT Roorkee and IIM Lucknow, with a distinguished 30-year career at Unilever spanning India, Asia, and Europe. His international experience includes serving as Country Head of Unilever in Thailand and General Manager for the Home Care business unit in Greater Asia.

During his 19-year tenure in India, Asawa held key leadership positions across sales, marketing, and distribution functions. He spearheaded digitization efforts at HUL and led product innovations for homecare categories, along with sales and distribution transformations in both urban and rural markets.

Compensation Structure

The Board of Directors has approved a comprehensive remuneration package for the proposed Managing Director position:

The fixed remuneration includes basic salary and fixed allowances as per company policy. Variable remuneration will be performance-based incentive pay according to the company's policy framework. Additional benefits include medical insurance, car loan benefits, mobile handset reimbursement, club and resort benefits, and travel expense reimbursements.

E-Voting Process and Shareholder Participation

The postal ballot notice has been distributed electronically to shareholders whose email addresses are registered with the company or depositories as of the cut-off date of January 16, 2026. The company has engaged National Securities Depository Limited (NSDL) to provide the remote e-voting platform.

Voting rights are calculated based on one vote per equity share registered in shareholders' names as of January 16, 2026. The company has appointed Himanshu S. Kamdar or Jayesh M. Shah from M/s. Rathi & Associates as scrutinizers to conduct the postal ballot process transparently.

Corporate Governance and Regulatory Compliance

The appointment follows recommendations from the Nomination and Remuneration Committee and Board approval on January 10, 2026. The proposal complies with Sections 152, 196, 197, 198, and 203 of the Companies Act, 2013, along with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Asawa has confirmed his eligibility for directorship under Section 164 of the Companies Act and provided consent under Section 152. The company received the requisite notice under Section 160 from a member proposing his candidature as Director.

Avenue Supermarts Limited , the retail giant operating the popular DMart chain, has expanded its footprint with the opening of a new store in Punjab. The company inaugurated its latest outlet at Pakhowal, Ludhiana on January 20, 2026, marking another milestone in its retail expansion strategy.

Store Network Expansion

With this new addition, Avenue Supermarts Limited has strengthened its presence in the northern region of India. The company's retail network has now grown to a substantial scale across the country.

Regulatory Compliance

The company has maintained its commitment to transparency by promptly informing the stock exchanges about this development. Avenue Supermarts Limited submitted the store opening intimation to both BSE Limited and The National Stock Exchange of India Limited on the same day of the store launch.

The official communication was signed by Ashu Gupta, Company Secretary and Compliance Officer, ensuring proper regulatory compliance. The intimation was digitally signed and timestamped at 17:47:00 on January 20, 2026.

Strategic Presence

This expansion into Ludhiana represents the company's continued focus on establishing presence in key urban centers across India. The new store at Pakhowal adds to the company's extensive retail network, which now comprises 443 operational stores nationwide.

The opening demonstrates Avenue Supermarts Limited's ongoing commitment to serving customers across diverse geographical locations while maintaining its growth trajectory in the competitive retail sector.