Avenue Supermarts Ltd, the operator of the DMart supermarket chain, has appointed Kalpana Unadkat as chairperson of its board, replacing Chandrashekhar Bhave as part of a scheduled leadership transition.
The company said in a regulatory filing to the stock exchanges that its board approved the appointment at a meeting held on March 14. Unadkat will assume the role from April 1, while Bhave will step down as chairman at the close of business on March 31.
According to the filing, Bhave will complete his second term as an independent director on May 16, 2026, bringing an end to his tenure on the board.
Leadership transition at DMart parent company
The move represents a routine governance transition at Avenue Supermarts, one of India’s fastest-growing organised retail companies.
The company said Unadkat, currently an independent director on the board, will take over the chairperson’s role following Bhave’s departure.
In its communication to the BSE, Avenue Supermarts said the board had approved the appointment of Unadkat as chairperson with effect from April 1, 2026.
“Consequently, Mr Chandrashekhar Bhave shall cease to be the chairman from the close of business hours on March 31,” the filing stated.
Corporate governance experience
Unadkat brings more than 25 years of experience in corporate law, governance and cross-border mergers and acquisitions, according to details shared in the company’s regulatory disclosure.
She is a dual-qualified solicitor in both India and the United Kingdom, and has advised global corporations on complex transactions, joint ventures and regulatory matters.
Unadkat previously served as Senior Partner at Khaitan & Co and later as Co-Head of the India practice at international law firm Ashurst, where she advised multinational companies on strategic deals and governance frameworks.
The company said she brings deep expertise in corporate governance, regulatory systems and board effectiveness, adding that her experience in advising boards and senior executives will support the company’s oversight framework.
Governance focus as retail expansion continues
Avenue Supermarts operates the DMart chain of supermarkets, one of India’s most profitable retail businesses known for its value-led retail model and efficient store operations.
The leadership change comes as the company continues to expand its footprint across India while facing growing competition from e-commerce platforms and quick-commerce delivery services.
With Unadkat set to lead the board, the company is expected to maintain a focus on governance oversight and long-term strategy as it navigates the next phase of growth in the country’s rapidly evolving retail sector.
Her term as chairperson will run until May 16, 2026, in line with the completion of her tenure as an independent director.