 "DMart")
Avenue Supermarts has launched its qualified institutional placement (QIP) programme to raise at least Rs 4,000 crore.
The country’s most valuable listed retail chain will issue 20 million fresh shares at a base price of Rs 1,999. Avenue Supermarts’ board will meet on February 10 to approve the QIP price.
Shares of the company rose 4.35 per cent to close at Rs 2,249 on Wednesday. The company is currently valued at Rs 1.41 trillion and is among top 20 most valued firms in the country.
The QIP will help promoters of the company, led by Radhakishan Damani, pare their holdings, which currently stands
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