Retail Chain D-Mart’s Parent Avenue Supermarts Files For Rs 1,870-Crore IPO
Retail chain D-Mart files for IPO with an aim to raise Rs. 1,870 crore
Avenue Supermarts Ltd., the parent company of the D-Mart retail chain, filed for an Initial Public Offering (IPO), where it plans to raise up to Rs 1,870 crore.
The company, which has appointed Kotak Mahindra Capital Company Ltd. as the global coordinator and the book running lead manager, also appointed Axis Capital Ltd., HDFC Bank Ltd., ICICI Securities Ltd., and five other intermediaries as book running lead managers.
The company said in a filing today that it intends to get listed on the Bombay Stock Exchange as well as the National Stock Exchange, and had received permissions from both the bourses for the said listing.
Avenue Supermarts had in its annual report for 2015-16 said it planned to raise close to Rs 2,000 crore through the IPO. The company, promoted by investor Radhakishan Damani, runs the retail chain D-Mart. D-Mart presently has 110 outlets across seven states in India.
The company reported a net profit of Rs 321.21 crore for the financial year ended March, up 51.7 percent on year.