D-Mart files draft red herring prospectus with Sebi for 2000 crores IPO

D-Mart files draft red herring prospectus with Sebi for 2000 crores IPO

D-mart which was started by Radhakishan Damani in 2002 is a one-stop supermarket chain that aims to offer customers a wide range of basic home and personal products under one roof. Each DMart store stocks home utility products - including food, toiletries, beauty products, garments, kitchenware, bed and bath linen, home appliances and more - available at competitive prices that our customers appreciate.

Avenue Supermarkets which runs the D-mart stores in India has filed a draft red herring prospectus with Sebi and is looking to raise Rupees 2000 crore. D-Mart is a profit making retail chain and the value of the company is estimated at Rupees 18000 crore.

Objectives of the IPO are:

Part repayment of the loans.

Redemption of non-convertible debentures.

Purchase of stores.

It operates stores of 10,000 to 50,000 sq ft each.

It plans to soon launch e-commerce operations.

Financials

D Mart reported sales of Rs 6,450 crore. 

D Mart made a profit of Rs 211 crore.

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