D-Mart IPO opens on March 8, price band fixed at Rs 295-299

Supermarket retail chain D-Mart's initial public offer (IPO) is all set to hit the market with a price band of Rs 295-299 on March 8.

The Rs 1,870-crore IPO will close on March 10.

Bids for the IPO can be made for a minimum of 50 equity shares and in multiples of 50 shares thereafter.

Around 6.23 crore equity shares of Rs 10 each (face value) will be offered to the public. The issue size is worth Rs 1,865.57 crore.

The stock will be listed on both BSE and NSE.

Avenue Supermarts was incorporated on May 12, 2000 at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956

35 percent of the issue size has been reserved for retail investors and 15 percent for non institutional investors.

Currently, D-Mart operates close to 120 stores, most of them located in Maharashtra and Gujarat.

Axis Capital, Edelweiss Capital, HDFC Bank, ICICI Securities, JM Financial Consultants, Kotak Mahindra Capital, Motilal Oswal Investments Advisors, and SBI Capital Markets are the book running lead managers to the issue.