Stocks

Avenue Supermarts raises ₹561 cr from anchor investors

Our Bureau Chennai | Updated on January 13, 2018

Avenue Supermarts on Tuesday allotted 1.876 crore shares at ₹299 a share to 35 anchor investors, aggregating to about ₹561 crore.

The anchor investors include Smallcap World Fund, New World Fund, Fidelity, Govt of Singapore, JP Morgan, T Rowe Price, HDFC Mutual Fund, Reliance Mutual Fund, ICICI Prudential Mutual Fund and SBI Mutual Fund. The ₹1,870-crore initial public offering of Avenue Supermarts, parent of D-Mart, will hit the market on Wednesday.

Avenue Supermarts is divesting 10 per cent stake through the IPO. The issue closes on Friday. The price band has been set at ₹295-299 a share. Radhakishan Damani and his family own 91.34 per cent of Avenue Supermarts. The company is an emerging national supermarket chain with a focus on value-retailing.

Published on March 07, 2017

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