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Mar 11, 2017 12:02 PM IST | Source: Moneycontrol.com

D-Mart operator IPO oversubscribed 104 times on QIB, HNI support

The reserved portion of qualified institutional buyers oversubscribed 144.62 times while the portion set aside for non-institutional investors subscribed 277.74 times and that of retail investors 7.51 times, according to CNBC-TV18.

D-Mart operator IPO oversubscribed 104 times on QIB, HNI support

Moneycontrol News

Investors applied aggressively to the initial public offering (IPO) of Avenue Supermarts, the operator of supermarket retail chain D-Mart. The issue received bids worth Rs 1.38 lakh crore against an issue size Rs 1,326.70 crore (excluding the portion of anchor investors).


According to data available on the National Stock Exchange (NSE), the issue has been oversubscribed 104.59 times as of 11:15 pm on Friday—the closing day of the issue. It received bids worth for 464.08 crore shares against the total issue size of 4.43 crore shares (excluding anchor investors' portion). 

The reserved portion of qualified institutional buyers oversubscribed 144.62 times while the portion set aside for non-institutional investors subscribed 277.74 times and that of retail investors 7.51 times, according to CNBC-TV18.

Also Read: How D-Mart owner Damani made 1,800% gains from a cigarette stock 


The company targets raising Rs 1,870 crore at a higher end of the price band of Rs 295-299 through the issue, which opened on Wednesday. On Tuesday, the firm raised nearly Rs 561 crore by allotting shares to anchor investors.


The IPO is the biggest since PNB Housing Finance's Rs 3,000 crore offer in October last year.

Also Read: D-Mart IPO: Grey market premium soars on RK Damani brand value 

Avenue Supermarts has reserved 50 percent portion of public issue for qualified institutional buyers and out of which, 60 percent may be allocated to anchor investors. Meanwhile, 15 percent portion of the total issue size is reserved for non-institutional investors and the rest 35 percent for retail investors.

Kotak Mahindra Capital is a global co-ordinator and book running lead manager to the issue. Its book running lead managers are Axis Capital, Edelweiss Financial Services, ICICI Securities, Inga Capital, JM Financial Institutional Securities, Motilal Oswal Investment Advisor and SBI Capital Markets.

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