Neville Noronha, MD and CEO of D-Mart, during the announcement of Rs1,870 crore IPO in Mumbai. Photo: Abhijit Bhatlekar/MintMumbai: Avenue Supermarts, the parent of the D-Mart chain of food and grocery supermarkets, on Wednesday announced a price band of Rs295-299 per share for its initial public offering (IPO). It is very counter-intuitive.”Noronha also emphasized Avenue Supermarts’ strength lies in the fact that it owns most of its stores. “However, we also lease and are not averse to leasing properties.” He declined to share details of how many stores Avenue owns and leases. Despite going to the market for funds, Avenue Supermarts is not planning to speed up its expansion plans.

Source: Mint March 01, 2017 09:44 UTC