D-Mart files offer document for Rs 1,870-cr IPO

The issue proceeds will be utilised for repayment of loans, construction of new stores and general corporate purposes

Hypermarket store operator Avenue Supermarts (D-Mart) has filed its draft red herring prospectus (DRHP) with the market regulator Sebi. The company is looking to raise Rs 1,870 crore through its Initial Public Offering (IPO). The issue proceeds will be utilised for repayment of loans, construction and purchase of fit outs for new stores and general corporate purposes.

Kotak Mahindra Capital will manage the issue, along with Axis Capital, Edelweiss, HDFC Bank and ICICI Securities, Inga Capital, JM Financial, Motilal Oswal and SBI Capital Markets.