Page 3 - D-mart

D-Mart stock gains 13% on traction from large funds

Stock of Avenue Supermarts, which runs D-Mart stores, rose 13 per cent today, a consecutive gain after yesterday's 5 per cent rise. Market is abuzz that some large fund houses are lapping up the stock at a time it is short in supply.Avenue Supermarts had diluted only 10 per cent of stake in the IPO. Currently, 82 per cent in the company is with the promoters and another eight per cent is owned by pre-IPO investors. Therefore, nearly 90 per cent of the float is under one-year lock in. Also, bulk of the investors who bought in the IPO are long-term investors and the one-month anchor investor lock-in is still applicable on the stock. "There could be just Rs 2,000 crore worth shares of D-Mart that could be available for active trading. Majority of the IPO investors especially the institutional investors have entered the company from a long term perspective. Hence there is a shortage of supply. On the other hand, the demand for the stock has only increased since listing as many of the ...

D-Mart vs 'd mart' courtroom drama ahead of IPO

It was a March 7, just hours left before the D Mart initial public offering (IPO) opened for subscription in the bourses. The top executives and bankers of the mothership Avenue Supermarts were busy with the last minute errands and calls. Hundreds of miles away in the Delhi High Court, a petition came up for hearing before Judge Rajiv Sahai Endlaw. Dolphin Mart, a firm based in the capital's Okhla Industrial area, sought an injunction against the usage of the 'D MART' name. Promoted by KV Rao, a former executive of Shriram group's Usha International in 1992, Dolphin Mart deals in what it calls "Lifestyle Retail." Its 'dmart Exclusif' deals in "aspirational and life style collectibles." Rao, from a textile family, studied nuclear physics and industrial management in Indian Institute of Science, Bangalore, according to the group website. While Rao is the chairman of the company, the next generation led by son Praveen Rao have taken charge of day to day operations. Dolphin sued Avenue ..

Navil Noronha: Meet the low-profile chief executive officer at D-Mart

'We want to keep things simple,' are words often used by Noronha

Is D-Mart India's Walmart in the making? What explains its success

Radhakishan Damani's retail chain gives its customers less and makes more than its rivals

D-Mart's stellar debut: Should you hold or book profits?

The stock listed at Rs 604.40 on the BSE, 102% premium against its IPO price of Rs 299.

D-Mart hits bull's eye on debut; founder Damani leapfrogs in rich list

Rs 40,000 cr market cap on listing day is more than the combined value of the next 3 retail giants

1.8 million retail applications: How the D-Mart IPO strained the system

IPO of Avenue Supermarts has been the most successful one since halving of the listing timeline

Can D-Mart modify its ownership model?

D-Mart bucked trend in India by choosing a cluster approach for densely populated residential areas

D-Mart tops IPO charts since 2010

Investors across segments queued up for the initial public offering (IPO) of Avenue Supermarts, which operates the successful retail chain D-Mart, mainly in Maharashtra and Gujarat. The Rs 1,840-crore offering, which closed on Friday, saw 104 times more demand than shares on offer. The issue generated bids worth Rs 1.38 lakh crore -most since Coal India's IPO in 2010. The so-called qualified institutional buyer (QIB) portion of the IPO was subscribed 146 times, high-networth individual portion (HNI) segment was subscribed 281 times and retail investor portion saw seven times more demand than shares on offer. Market experts say investors were enthused by the company's financial track record, attractive valuations compared to peers and strong growth prospects. "Given the euphoria surrounding this issue, we were expecting this kind of demand. The success of the issue is a thumbs up to India's retail sector, where D-Mart is one of the best company," said Dharmesh Mehta, MD & CEO, Axis

The other D of D-Mart and the cloak of reclusiveness

The Initial Public Offer (IPO) prospectus of Avenue Supermarkets, parent of the D-Mart retail chain, does not mention his name. But, when the D-Mart brand was a toddler, it had not one but two Ds holding its hands. One was Radhakishan Damani, ace stock market investor and promoter of Avenue, along with a host of family members and group entities. However, back in the 1990s, he was not a high priest of organised retailing. That was where the other D came in. Damodar Mall, then in his 30s, had an ideal career. With an IIT/IIM education and a Hindustan Unilever job, his life was set. But, he had other ideas. In a recent blog, in an extract from his book, Supermarketwala: Secrets of winning Consumer India, Mall, now chief executive, grocery at Reliance Retail, explains the D-Mart story. He talks about the early days in Navi Mumbai, when the first store started in 1999 ...

In D-Mart shopping cart, valuations look justified

In a sector where companies are struggling to generate consistent profits, Avenue Supermarts is an outlier. The company, which runs India's most profitable supermarket chain under the D-Mart brand, has reported net profits that have grown in each of the last five financial years going back to FY2012. If one were to annualise the reported net profit for nine months of FY17, it is well on its way to topping the Rs 500 crore mark for the fiscal. A consistent track record of profitability, a strong management team and an obsession with keeping costs to the minimum is the best medicine to keep profits rolling going ahead. Retail investors can subscribe to the issue.At the lower end of the price band, the company is asking for 35 times its FY17 annualised net profit on a post issue equity base. While this is at a slight premium to Future Retail (34.2 times FY17 earnings), it is justified given that Future's FY17 estimated revenues are 60 per cent more while its net profit is 35 per cent ...

Chain set to become highest valued listed retailer

D-Mart's parent Avenue, Supermarts, said it was raising Rs 1,870 cr through its initial public issue

No promoter in driver's seat at D-Mart

Company's Rs 1870-crore IPO will open on March 8 and close on March 10

How D-Mart battled the giants

The chain has managed to keep online and offline challengers at bay, staying in the black even as other big groups have faltered

D Mart to add 60% more store space

To build 900,000-sq ft store space by FY20

D-Mart files offer document for Rs 1,870-cr IPO

The issue proceeds will be utilised for repayment of loans, construction of new stores and general corporate purposes

D Mart sets sight on Rs 2,000-cr IPO

Appoints former Sebi chief C B Bhave on board