D-Mart parent Avenue Supermarts IPO oversubscribed 104 times on last day

The IPO received bids for 460.22 crore shares against the total issue size of 4.43 crore shares, data available with the NSE till 1545 hrs showed.

PTI March 10, 2017 16:42:59 IST
D-Mart parent Avenue Supermarts IPO oversubscribed 104 times on last day

New Delhi: The initial public offer of Avenue Supermarts, the operator of retail chain D-Mart, saw robust investor demand and was oversubscribed 103.72 times till late afternoon trade on the last day of the offer today.

DMart parent Avenue Supermarts IPO oversubscribed 104 times on last day

Reuters

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 1545 hrs 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.

Updated Date:

also read

Market roundup: Sensex rises 381 points, Nifty at record close post RBI policy announcements; today's top gainers and losers
Business

Market roundup: Sensex rises 381 points, Nifty at record close post RBI policy announcements; today's top gainers and losers

NSE Nifty 50 posted a gain of 104.85 points or 0.59 percent to end at 17,895.20. Talking about sectors, Nifty IT and PSU Bank index soared by two and 1.65 percent respectively

Piramal Enterprises board approves demerger of pharma business, simplification of corporate structure
Business

Piramal Enterprises board approves demerger of pharma business, simplification of corporate structure

The pharmaceuticals business will get vertically demerged from Piramal Enterprises and consolidated under Piramal Pharma, the company said in a regulatory filing.

Market roundup: Sensex ends 445 points higher, Nifty at 17,822; check top gainers, losers
Business

Market roundup: Sensex ends 445 points higher, Nifty at 17,822; check top gainers, losers

At the closing bell, broader markets witnessed an upward trend. BSE smallcap and midcap indices too ended in the green. On the other hand, India VIX saw a dip of two percent.