D-Mart IPO price band may be Rs 290-299: the IPO may get tremendous response

It is now almost official--price band of Avenue Supermarts', which runs D-Mart branded superstores, IPO will be in the range of Rs 290 and Rs 299.
 
Avenue Supermarts is all set to raise Rs 1810 crore to Rs 1866 crore by offering 6.23 crores of shares. Radhakishan Damania is the face behind D-Mart. The shares of Avenue Supermarts will be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

One can bid for the Issue during March 8 and March 10, as per information emerging on Tuesday. D-Mart's main presence is consolidated within the geographical boundaries of the state of Maharashtra and it also has significant presence in Gujarat. The company will be paying back its debt from the money raised through the IPO, as it had intimated the market watchdog, SEBI earlier while filing the DRHP.
 
March is going to be a month of happening in the IPO front as five IPOs have been lined up during the last month of the current fiscal year. Also there will be the mega IPO of NSE being readied to hit the Street during the next two months of time.