Economy

Avenue Supermarts Limited to list today

Avenue Supermarts Limited to list today

Price band for the issue was fixed at upper band of Rs 299 per share.

At 10:25am, Avenue Supermarts shares were at Rs 596, up 97 percent, with over 3.26 crore shares changing hands on BSE so far.

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The listing of the company was highly awaited after the initial public offer (IPO) of the retail supermarket was subscribed almost 105 times. The IPO of Avenue Supermarts closed with strong response from investors. The IPO received bids for 464.08 crore shares compared with 4.43 crore shares on offer. The IPO was subscribed 104.59 times. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 144.6 times and that of non-institutional investors 277.74 times.

On the National Stock Exchange (NSE), the stock opened at Rs 600, a 101% premium against issue price. The net profit which was Rs 161 crore in FY 2014 went up to Rs. 319 crore in FY 2016.

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In this February 14, 2017 file photo, Supreme Court Justice nominee Neil Gorsuch, center, accompanied by former New Hampshire Sen. In his opening statement, Grassley alluded caustically to Democrats' complaints about judicial independence in the Trump era.

The IPO, the biggest since PNB Housing Finance's Rs 3,000 crore offer in October past year, was subscribed more than 104 times earlier this month. The premium started near Rs. 110 levels above the issue price and shot up to Rs. 260-275. The company's stores operate under the "D-Mart" brand, registered as a trademark under various classes of products. The company offers a wide range of products with a focus on the Foods, Non- Foods (FMCG) and General Merchandise & Apparel product categories.

Link Intime India Private Limited is the registrar to the company.

Energy Transfer Partners, LP (NYSE): What's the Wisdom of Wall Street?
According to their observations and findings, the stock could provide a high EPS of $0.19/share and a Low EPS of $-0.51/share. We would note that analysts seem to be projecting earnings, on average, for this quarter in the range of $-0.10 to $0.39.

Even though the shares of Avenue Supermarts made a stellar debut, its competitors were not lucky as they plunged between 1 and 10 per cent on the bourses. It was told in the earlier report that the proceeds of the issue were going to utilised for various purposes including repayment of a loan.


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