Avenue Supermarts, the parent of D-Mart chain of retail stores, has received a stupendous response to its initial public offering with the issue being subscribed nearly 106 times, and garnering nearly Rs 2 lakh crore against the issue size of Rs 1,870 crore.
According to data available till the time of going to press, the IPO received bids for 463.76 crore shares against the issue size of 4.43 crore shares. The IPO received over 18.23 lakh applications.
This is one of the best responses to an IPO in the recent past. Bengaluru-based Quess Corp’s IPO was subscribed 144.34 times, making it the most oversubscribed IPO in India in the last nine years, and the second most oversubscribed IPO in India since 2000.
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