Page 7 - Avenue Supermarts

D-Mart offer subscribed 5.8 times, brokerages bullish on Avenue Supermarts

The Rs 1,870-crore Initial Public Offer of equity (IPO) in Avenue Supermarts, owner of the D-Mart retail chain, was subscribed 5.8 times on Thursday, a day before close. The 44 million-share offering has got bids for 253 mn shares. While the retail (meaning, non-wealthy individual) and high net worth individual (HNI) portions have been subscribed four times and five times, respectively, the institutional quota was subscribed a little more than nine times.The offering is a completely fresh issue and a price band of Rs 295 to Rs 299 a share has been fixed.A majority of brokerages have recommended their clients subscribe for the issue. At the upper price band, the IPO is priced close to 58 times the earnings of Avenue Supermarts in FY16. In contrast, peers Future Retail and Trent are trading at 76 times and 125 times their FY16 earnings."Given its growth momentum, gross/Ebitda margin profile, return ratios and inventory turns, ASL dwarfs most of its listed peers, both domestic and ...

Avenue Supermarts IPO oversubscribed 1.38 times on Day One of issue

The 44.37 million share offering has so far garnered bids for 60 million shares

Retail brokerages ask clients to subscribe to D-Mart IPO

The supermarket operator operates 118 stores across 45 cities

Avenue Supermarts raises Rs 561 cr from anchor investors

The price band for the IPO is Rs 295 to Rs 299 per share

Avenue Supermarts sets IPO price band at Rs 295-299

The IPO of the supermarket operator opens for public subscription on March 8

Avenue Supermarts to launch Rs 1,870 cr IPO on March 8

The IPO would be the country's biggest since PNB Housing Finance raised Rs 3,000 crore