Mart shares to be listed on Tuesday

D-Mart shares to be listed on Tuesday

D-Mart has chain of around 120 retail stores, with majority being in Maharashtra and Karnataka.

Supermarket retail chain D-Mart, listed at Rs 616 on the Bombay Stock Exchange, up 104 percent over issue price of Rs 299 today.

The company recently came with an IPO at a price band of Rs 295 to Rs 299.

The investors who got an allotment of D-Mart shares seem to be lucky. The IPO was the biggest since PNB Housing Finance's Rs 3,000 crore offer in October past year.

The company proposes to utilize the IPO proceeds repayment or prepayment of a portion of loans, construction and purchase of fit outs for new stores and for general corporate purposes.

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Avenue Supermarts in Mumbai happens to be one of the most lucrative groceries and food retailers in India.

D-Mart is the country's most profitable retail chain.

Analysts like Kaustubh Pawaskar from Sharekhan was not surprised about the listing of D-Mart shares. In the last five years profits have grown at a CAGR of 40 percent while top line has expanded 30 percent every year to Rs 8,780 crore for the nine months of FY17 while its profits for the same period were Rs 387 crore.

Avenue Supermarts is an emerging national supermarket chain. As of January 31, 2017, it had 118 stores with retail business area of 3.59 million sq.ft, located across 45 cities in Maharashtra (59), Gujarat (27), Telangana (13), Karnataka (7), Andhra Pradesh (4), Madhya Pradesh (3), Chhattisgarh (1) and NCR (1) Daman (1) and Rajasthan (2).

ICICI Securities, Kotak Mahindra Capital, JM Financial Institutional Securities, Axis Capital, MotilalOswal Investment, SBI Capital Markets, HDFC Bank, Kotak Mahindra Capital and Edelweiss Financial Services take care of the public issue for D-Mart.

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