Investment bankers got just 0.5% for D-Mart IPO

D-Mart is promoted by legendary investor Radhakishan Damani

Avenue Supermarts, which operates the D-Mart retail chain, paid Rs 9.43 crore —just 0.5 per cent of the issue size — to the eight investment banks that managed the Initial Public Offering (IPO), shows the company's final offer document filed with the market regulator this week.
 
Typically, investment banks charge between 1.5 per cent and three per cent to manage private-sector IPOs. The average fee charged for the previous 10 big IPOs is around two per cent.
 
The eight investment banks that handled the D-Mart IPO are Kotak Mahindra Capital Company, Axis Capital, Edelweiss Financial Services, HDFC Bank,