Avenue Supermarts’ shares zoom over 114% on debut

New Delhi, March 21 

Shares of Avenue Supermarts, the operator of retail chain D-Mart, made a remarkable debut at the bourses today by soaring over 114% against the issue price of Rs 299.

After listing at Rs 604.40, up 102.14%, the stock finally ended with a sharp gain of 114.29% at Rs 640.75 apiece on BSE. Intra-day, it skyrocketed 117.39% to Rs 650 a share.

On the NSE, shares of the company surged 114.58% to end at Rs 641.60 per unit.

The Radhakishan Damani-promoted company, which recently concluded its Rs 1,870-crore IPO, commands a market valuation of Rs 39,988.21 crore.

On the volume front, 145.67 lakh shares of the company were traded on BSE and over 8 crore shares changed hands on NSE during the day.

“This listing will certainly qualify as the biggest listing of recent times in subscription and listing gains terms,” said Jimeet Modi, CEO, SAMCO Securities.

The IPO, the biggest since PNB Housing Finance’s Rs 3,000 crore offer in October last year, was subscribed more than 104 times earlier this month.

Last year, Advanced Enzyme’s initial share sale was subscribed 116 times and that of Quess Corp by 145 times.

The price band for the public issue of Avenue Supermarts was fixed at Rs 295-299 and the IPO was open for subscription during March 8-10. — PTI