Avenue Supermarts informed that its operations committee has authorized the opening of the qualified institutional placement (QIP) of equity shares from February 5 onwards.
The scrip rose 1.88% to Rs 2291.50. it has traded in the range of Rs 2250.05 and Rs 2299 so far during the day.
The company intends to issue 2 crore shares at the floor price of Rs. 1999.04 per equity share, offering a discount of not more than 5% on the floor price as permitted under SEBI norms.
On a consolidated basis, the supermarket chain operator's net profit jumped 55.3% to Rs 384.04 crore on a 24.4% rise in net sales to Rs 6808.93 crore in Q3 December 2019 over Q3 December 2018.
Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof.
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