Avenue Supermarts IPO to open from March 8

The IPO of Avenue Supermarts, which operates a retail chain under the D-Mart brand, is set to open on March 8, 2017

The issue is likely to be priced in the range Rs 290-299, said a banker to the issue. 

The company plans to sell shares worth Rs 1,800 crore in the IPO. This would be the second IPO of the year. In January, BSE raised about Rs 1240 crore. The IPO was subscribed 51 times 

D-Mart own chain of around 120 retail stores across 45 cities, most of them in Maharashtra and Karnataka. 

As of March 31, 2016, Avenue Supermarts posted a revenue of about Rs 8,600 crore, and a net profit of about Rs 320 crore. 

In the past four years, Avenue Supermarts grew revenue by 40% and net profit by 52% annually