On March 10, 2017, at the end of a three-day bidding process at the NSE, the initial public offer (IPO) of D-Mart’s parent company, Avenue Supermart Limited, to raise Rs 18.7 billion was subscribed 104.48 times . The issue received bids worth Rs 1,380 billion against an issue size of Rs 13 billion (except the portion of anchor investors). The price band of the IPO was Rs 295 to 299.

Qualified Institutional Buyers oversubscribed their portion 144.6 times, Non-Institutional Investors 277.4 times, and retail investors 7.36. The merchant bankers in the IPO were Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, JM Financial Institutions, Inga Capital, SBI Capital Markets, and Motilal Oswal Investment Advisors. According to analysts, the company’s high value-retailing model along with its focus on owing stores rather than leasing them gave it an edge over industry peers and made it the most profitable retail chain in India. . ..

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