D-Mart’s Stock Market Debut: Impressive But Not The Best
As far as listing day gains go, D-Mart’s parent is outranked by many others.
Avenue Supermarts Ltd., the parent company of supermarket chain D-Mart, doubled in value on the day of listing on Monday. The stock closed the session 114 percent higher than its issue price. And yet, this was nowhere close to the highest listing day gains seen since 2000, data compiled by BloombergQuint shows.
Since financial year 1999-2000, as many as has 26 companies - that are still listed today – gained more than Avenue Supermarts on debut. If we include stocks that are no longer trading, D-Mart's parent company slips to the 44th place.
Among the currently listed companies, Melstar Information Ltd. rose 393 percent above its issue price on listing day in 2000. The Rs 72 per share issue closed day 1 at Rs 355. That stock currently trades below Rs 4.
In the retail space, Avenue Supermarts is outranked by V2 Retail Ltd. which gained 179 percent on its debut in 2007 but is currently trading below its issue price.
Also Read: When Institutions Went Big On D-Mart IPO
