The most awaited IPO of 2017 listed today on both exchanges (NSE and BSE) with a Bumper listing gain of over 102% touching intraday high of 648.90 rupees, The Dmart’s IPO was filed to raise 1870 crores.
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Based on data provided by exchanges, the issue was oversubscribed 104.4 times. Bids were placed for 463.43 crore shares, against an issue size of 4.43 crore shares (excluding the anchor investors portion), for a price band of Rs 295 to Rs 299.
The reserve portion was for qualified institutional buyers (QIBs) was over-subscribed 144.6 times while that of retail investors was oversubscribed 7.3 times.
Also, the GMP provided by reputed forums suggested the interest of investors in the issue.
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Guide in Hindi :
Some details about the original issue :
Avenue Supermarts Limited, (Promoted by Radhakishan Damani) which runs hypermarkets and supermarkets under the D-Mart brand is one of the largest and the most profitable Food & Grocery retailer in India, they are popular and different from the other supermarket retailers because of their aggressive strategy of acquiring inventory , unique long leased stores at good location has filed its DRHP with the capital markets regulator SEBI (Securities and Exchange Board of India) to float its initial public offering.
Objects of the Issue, The net proceeds of the IPO are proposed to be used as set forth below:
1. Repayment of a portion of loans and redemption or earlier redemption of Non-Convertible Debentures ( NCDs ).
2. Construction and purchase of fit outs for new stores.
3. General corporate purposes.
Dmart IPO, Issue Detail:
* Opening dates : Mar 8, 2017 – Mar 10, 2017
* Type of issue : Book Built Issue IPO
* Size of issue : 44,372,882 Equity Shares of Rs 10 aggregating up to Rs 1,326.75 Cr
* Face Value of issue : Rs 10 Per Equity Share
* Price of issue : Rs. 295 – Rs. 299 Per Equity Share
* Lot size : 50 Shares
* Minimum Order : 50 Shares and in multiples of thereafter
* Listing At: BSE, NSE
To conclude, the initial response from investors for the company is positive but it is too early to compare it with Walmart, we have to wait for at least two weeks until the price settles.
Keep bidding. 😛