At close of trade, the company's market capitalisation stood at Rs 1,58,902.37 crore on the BSE.
Analysts say acquirer may have found the firm attractive at the valuation at which it was available at
Educated in Mumbai, where his father worked on Dalal Street, Damani dropped out of college after studying commerce for a year.
Crowd management policy critical; associations turn to government
Footfalls at stores that were open were lower than usual, the company said, pointing to the impact that retail firms, both organised and unorganised, were feeling due to the lockdown
The SBI Cards' IPO closed on March 5, and since then the market has come off 11%
The shares of Avenue Supermart were subscribed more than 3.5 times, with investors bidding for 51.8 million shares against 14.8 million shares on offer.
Experts say people have turned averse to taking out, especially meat products, following the outbreak
The stock fell 5.6 per cent to end at Rs 2,401 in secondary market trade. A further 1.5 million shares meant for retail investors will be auctioned on Monday.
Following the share sale, Avenue Supermarts, which operates the Dmart retail chain, will become compliant with the 25 per cent public shareholding norms
The Radhakishan Damani-promoted company is now more valuable than Nestle India and Bajaj Finserv, according to the BSE data
Firm's unit economics remain strong amid competitive intensity
The company is currently valued at Rs 1.41 trillion and is among top 20 most valued firms in the country
The company reported strong revenue, Ebitda growth in Q3, but analysts sceptical of this trend sustaining
The stock was trading close to its all-time high of Rs 2,010, hit on November 8, 2019
Top line grows nearly 24 per cent despite weak consumer sentiment; EBITDA margins in Q3 for DMart came in at 8.8 per cent
Nifty has for now shown resistance at its triple top level near 12,300 levels
The valuations of Reliance Retail have been arrived at using both discounted cash flow method as well as market capitalisation of comparable companies in the listed space
The share sale could come at a time when companies in India are battling weaker consumer demand as Asia's third-largest economy slows
At Rs 890, IRCTC is currently trading 2.8 times above the issue price of Rs 320