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D-Mart shares to be listed on Tuesday

LiveMint logoLiveMint 20-03-2017 Livemint

New Delhi: D-Mart parent Avenue Supermarts, which recently concluded its Rs 1,870-crore initial public offering (IPO), will list its shares on bourses on Tuesday.

The D-Mart IPO, the biggest since PNB Housing Finance’s Rs 3,000 crore offer in October last year, was subscribed more than 104 times earlier this month. Last year, Advanced Enzyme’s initial share sale was subscribed 116 times and that of Quess Corp. by 145 times.

The price band for the public issue of Avenue Supermarts, the operator of retail chain D-Mart, was fixed at Rs295-299 and the IPO was open for subscription during 8-10 March. Proceeds of the issue would be utilised for various purposes, including loan repayment.

The D-Mart IPO was managed by nine merchant bankers Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, Inga Capital, SBI Capital Markets, JM Financial Institutional Securities and Motilal Oswal Investment Advisors.

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