InvestorQ : How has been the response to the DMART QIP issue which just closed on Monday February 10 and who were the major investors?
Mitali Bhutta made post

How has been the response to the DMART QIP issue which just closed on Monday February 10 and who were the major investors?

Answer
user profile image
Dawn Cherian answered.
7 months ago


Avenue Supermarts raised a total sum of Rs.4098 crore from the sale of shares to qualified institutional buyers (QIB) via its QIP issue. Some of the marquee investors who put money in the QIP included Lone Cypress and Government of Singapore. Avenue Supermart allotted 2 crore shares at an issue price of Rs 2,049, under the QIP which closed on Feb 10, 2020. Out of the shares on offer, Lone Cypress picked up 11.97% of the shares on offer while the Government of Singapore took on 8.48%. Apart from these two, the Euro-Pacific Growth Fund bought 5.96% while the ICICI Prudential Blue Chip Fund also purchased 5.85%. This clearly shows the robust international institutional appetite for the stock of Avenue Supermarts, considering its profitable business model.