D-Mart IPO creating buzz in the grey market as premium soars
DSIJ Intelligence / 24 Feb 2017
Radhakishan Damani-promoted Avenue Supermarts, which owns retail chain major D-Mart, is making all the buzz in the grey markets as it is quoting at a premium of Rs 175-180 over the expected issue price.
Radhakishan Damani-promoted Avenue Supermarts, which owns retail chain major D-Mart, is making all the buzz in the grey markets as it is quoting at a premium of Rs 175-180 over the expected issue price.
Incorporated in the year 2002, the Mumbai-based Avenue Supermarts runs the supermarket chain D-Mart. The company is among the largest and the most profitable food and grocery retailers in India and is looking to aggressively expand its footprints from the current predominantly Maharashtra and Karnataka based operations.
The issue is being keenly tracked by investors, given the strong promoter backing in ace investor Radhakishan Damani. The issue is expected to hit the primary markets in the first half of March.
The company is looking to garner close to Rs 1,800 crore by selling 10 per cent stake in the company, which pegs the company's valuation at roughly Rs 18,000 crore.
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