Avenue Supermarts IPO: Low free-float in D-Mart may drive up the share price

Sebi turns the heat on MCX staffers and the latest tranche of CPSE ETF may not perform so well

Demand for shares of Avenue Supermarts, which operates the supermarket chain D-Mart, is likely to spill over to the secondary market following the successful initial public offering (IPO) last week. Market players say the low free-float in the company would drive up the share price. D-Mart has issued fresh shares worth Rs 1,840 crore in its IPO. Of this, half would be owned by institutional investors, who are usually long-term investors. Also, some retail (small) investors too would like to stick to their investments given the growth potential. “Only shares worth around Rs 600-800 crore could be available for active