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. 

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.