Mumbai: The IPO from Avenue Supermarts (ASL), the operator of super market chain D-Mart made a blockbuster debut on the bourses listing at more than double its issue price on Tuesday, which is likely to encourage more investor participation in the forthcoming market issuances.
The IPO listed at Rs 604.40 on the BSE, a premium of 102 per cent to its issue price of Rs 299 per share. After hitting an intra-day high of Rs 650, the stock finally ended the day at Rs 640.75, gaining 114.30 per cent.
The sharp surge in its prices also helped the firm to enter the top 100 club in terms of valuation. It is now the 65th most valued firm on the domestic bourses with a total m-cap of Rs 39,998 crore. Experts have cautioned investors against making fresh investment at current levels citing stretched valuations.
