Shares of Avenue Supermarts made a stellar debut at the Bombay Stock Exchange (BSE) today, surging nearly 107 per cent against the issue price of Rs 299. The stock listed on BSE at Rs 604.40, reflecting a huge jump of 102 per cent over the issue price.
Later, it touched an intra-day high and intra-day low of Rs 619.75 and Rs 558.75 respectively. On the volume front, over 5.78 crore shares of the exchange were traded so far on NSE. The price band for the public issue of Avenue Supermarts, the operator of retail chain D-Mart, was fixed at Rs 295-299 and the IPO was open for subscription during March 8-10. Proceeds of the issue would be utilised for various purposes, including loan repayment, reported PTI.
The public issue was managed by nine merchant bankers Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, Inga Capital, SBI Capital Markets, JM Financial Institutional Securities and Motilal Oswal Investment Advisors. Meanwhile, the broader benchmark BSE Sensex was trading at 29,425.07, down 93.67 points or 0.32 per cent, at 12:15 hours.