Avenue Supermarts raises Rs 561 cr from anchor investors

Avenue Supermarts on Tuesday raised Rs 561 crore from 35 anchor investors by allotting them 18.76 million shares at Rs 299 apiece. The company’s initial public offering (IPO) opens for subscription on Wednesday. The price band for the IPO is Rs 295 to Rs 299 per share. 

Fidelity, Government of Singapore, JP Morgan, T Rowe Price are among the foreign institutional investors who have got allotment in the anchor book. Among the domestic institutions that have got allotment are HDFC MF, Reliance MF, ICICI Prudential MF and SBI MF. 

Avenue Supermarts, which operates the D-Mart retail chain, is looking to raise Rs 1,870 crore in the IPO by diluting around 10 per cent equity. The IPO closes on Friday.