Avenue Supermarts, the operator of supermarket retail chain D-Mart, is coming out with an initial public offering (IPO) to raise up to Rs 1,870 crore in a price band Rs 295-299 per equity share. The issue will open on March 8, 2017 and will close on March 10, 2017. The shares will be listed on the BSE and NSE.
The company will use the issue proceeds for repayment or prepayment of a portion of loans and redemption or earlier redemption of NCDs availed by the company, construction and purchase of fit outs for new stores and also for general corporate purposes. The book running lead managers to the issue are Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, INGA Capital, JM Financial, Motilal Oswal and SBI Capital Markets.
Avenue Supermarts is an emerging national supermarket chain, with a focus on value-retailing. The company offers a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories.