D-Mart: DMart raises Rs 4,098 crore from QIP; govt of Singapore among investors

NEW DELHI: DMart operator Avenue Supermarts on Tuesday said it has raised Rs 4,098 crore from share sale, which included investors such as Lone Cypress and the Singapore Government.

The company in a regulatory filing said it issued and allotted 2 crore shares at an issue price of Rs 2,049, under a qualified institutional placement. The issue opened on February 5, 2020 and closed on February 10, 2020.

Lone Cypress acquired 11.97 percent of the shares on offer while the Government of Singapore picked 8.48 per cent. Europacific Growth Fund bought 5.96 per cent while ICICI Prudential Bluechip Fund picked 5.85 per cent of the total share on offer.

As per December-end shareholding data, the promoters of the company held 79.73 per cent in the company. They are required to bring that down to at least 75 per cent as per regulations.

At 12.13 pm, shares of Avenue Supermarts were trading 3.03 per cent down at Rs 2,408.95.

The market capitalisation of Avenue Supermarts crossed Rs 1.50 lakh crore on Monday amid the ongoing bullish momentum. Shares of the company jumped nearly 16 per cent to Rs 2,484 in the past 10 trading sessions till February 10.

The company was listed on the bourses on March 21, 2017. Since its listing, shares of the company have zoomed over 280 per cent till date.

Thanks to the surge, Radakishan Damani has become the sixth richest Indian.