The initial public offer of Avenue Supermarts, the operator of retail chain D-Mart, saw robust investor demand and was subscribed 103.72 times till late afternoon trade on the last day of the offer today Friday March 10,2017
The IPO, the biggest since PNB Housing Finance’s Rs. 3,000 crore offer in October last year, received bids for 460.22 crore shares against the total issue size of 4.43 crore shares, data available with the NSE till 3.45 pm showed.
Avenue Supermarts on Tuesday raised nearly Rs. 561 crore by allotting shares to anchor investors.
The price band for the IPO has been set at Rs. 295—299.
Avenue Supermarts plans to raise Rs. 1,870 crore through the IPO and the proceeds would be utilised for various purposes, including loan repayment.
Nine merchant bankers — Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, JM Financial Institutional Securities, Inga Capital, SBI Capital Markets and Motilal Oswal Investment Advisors — are managing the offer.
DMart is owned by Avenue Supermarts Ltd (ASL). ASL is a company which is founded by Mr. Radhakrishan Damani. Mr. Radhakrishan Damani top stock market investor
DMart is owned by Avenue Supermarts Ltd (ASL). ASL is a company which is founded by Mr. Radhakrishan Damani. Mr. Radhakrishan Damani top stock market investor
Dmart is having 7 supermarket stores at states at.
- Maharashtra
- Gujarat
- Telangana
- Andhra Pradesh
- Karnataka
- Madhya Pradesh
- Chhattisgarh
- NCR
DMart IPO objective is following.
- Repayment or prepayment of loans and and redemption or earlier redemption of NCDs availed by the Company
- Construction and purchase of fit outs for new stores
- General corporate purposes
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