Should you opt for Avenue Supermarts IPO? What brokerages have to say

The company's net profits have grown in each of the last five financial years since FY12

Initial public offer (IPO) of Avenue Supermarts that operates supermarket chain, D-Mart, hits the markets today. It plans to raise Rs 1,870 crore through a fresh issue of equity shares in the price band of Rs 295-299. The fresh issue will constitute around 10% of the post-issue paid-up equity share capital of the company, assuming the issue is subscribed at the upper end of the price band.

Avenue Supermarts recently allotted 18,762,541 equity shares at Rs 299 per share (including share premium of Rs 289 per share) aggregating to Rs 561 crore (approximately) to 35 anchor investors that include Smallcap