Owner of supermarket retail chain will list on the stock exchanges after having already raised Rs 561 crore from anchor investors; grey market premium seen higher
Avenue Supermarts, the operator of supermarket retail chain D-Mart, will be listing on stock exchanges on March 21.
The issue was oversubscribed a whopping 104 times. It raised Rs 561 crore through allotment of shares to anchor investors as part of the anchor book allocation.
The listing will follow another popular listing, Music Broadcast Limited, the parent of FM channel Radio City. The scrip had a stellar listing as it opened 23 percent higher.
D-Mart has chain of around 120 retail stores, with most of them being in Maharashtra and Karnataka.Grey market brokers said that the stock was quoting at a premium of Rs 175-180 over the issue price.