Avenue Supermarts OFS retail portion subscribed more than 3.5 times

The retail portion of Avenue Supermarts' offer for sale (OFS) was almost fully subscribed on Monday. The offer got bids for 1.45 million shares or 0.98 per cent from retail investors on Monday as against 1.48 million shares on offer. 

The unallotted institutional investors bid 5.1 million shares. The shares of Avenue Supermart were subscribed more than 3.5 times, with investors bidding for 51.8 million shares against 14.8 million shares on offer. Following the offer for sale (OFS), Avenue Supermarts has become compliant with the 25 per cent public shareholding norms.