D-Mart promoter Avenue Supermarts makes blockbuster debut on BSE; shares jump over 100%

Shares of Avenue Supermarts made a stellar debut on the bourses, surging up to 102% against the issue price of Rs 299.

The stock listed at Rs 604.40, registering a sharp gain of 102.4% over the issue price on BSE. It later soared 105.68% to Rs 616.25.

At NSE, shares of the company opened at Rs 600, up 100%.

The company, which recently concluded its Rs 1,870-crore initial public offering, commands a market valuation of Rs 37,198.56 crore.

On the volume front, 80.93 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the morning trade.

The IPO, the biggest since PNB Housing Finance's Rs 3,000 crore offer in October last year, was subscribed more than 104 times earlier this month.

The price band for the public issue of Avenue Supermarts, the operator of retail chain D-Mart, was fixed at Rs 295-299 and the IPO was open for subscription during March 8-10.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)