India's Avenue Supermarts opens $280m IPO

The company behind D-Mart supermarkets kicks off bookbuilding for what could be India’s largest IPO so far this year.

India's Avenue Supermarts opens $280m IPO

One of India’s most profitable retailers is ready to go public as Avenue Supermarts kicks off its Rs18.7 billion $280 million initial public offering on Wednesday.

Avenue Supermarts will no doubt hog the attention of stock market investors because it is the operating entity behind D-Mart, a well-recognised supermarket chain that operates 118 stores across nine Indian states.

Investors will also be keen to see how the stock performs after its listing...

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