D-Mart IPO oversubscribed by over 100 times
DSIJ Intelligence / 10 Mar 2017
Investors are applying aggressively to the initial public offering (IPO) of Avenue Supermarts, the operator of supermarket retail chain D-Mart.
Investors are applying aggressively to the initial public offering (IPO) of Avenue Supermarts, the operator of supermarket retail chain D-Mart. The response to this IPOs is astonishing among all recent IPOs. This is the third IPO in the calendar year 2017.
As per the data available on the National Stock Exchange (NSE), the issue has been oversubscribed 105 times on the last day of subscription. It received bids for 460 crore shares as against the total issue size of 4.43 crore shares, excluding anchor investors' portion.
The reserved portion of qualified institutional buyers (QIB) was oversubscribed 145 times, while the portion set aside for non-institutional investors (NII) was oversubscribed 278 times and that of retail investors 7 times.
The company targets to garner Rs 1870 crore at the higher end of the price band of Rs 295-299 through the IPO, which opened on Wednesday. On Tuesday, it had raised nearly Rs 561 crore by allotting shares to anchor investors.
Kotak Mahindra Capital is a global co-ordinator and book running lead manager to the issue. Its book running lead managers are Axis Capital, Edelweiss Financial Services, ICICI Securities, Inga Capital, JM Financial Institutional Securities, Motilal Oswal Investment Advisor and SBI Capital Markets.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.