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