Avenue Supermart to launch its Rs 1870 crore IPO on March 8

Avenue Supermart Limited (ASL), operator of D-Mart brand, will launch its initial public offer (IPO) on March 8, 2017. The issue will close on March 10, 2017.

Price band for the issue has been fixed at a lower band of Rs 295 per share and an upper band of Rs 299 per share.

Avenue Supermart will offer 6.23 crore shares or 11% stake in the company to raise about Rs 1870 crore.

Add Zee Business as a Preferred Source

Book lead running manager (BLRM) are HDFC Bank and ICICI Securities, Kotak Mahindra Capital, Axis Bank and Edelwiess.

Stakeholders of Avenue Supermarts are - stock market guru Radhakishan Damani who holds 43.8%, while Gopikishan S. Damani owns 9.1% and Shrikantadevi Damani has 3.96% stake.