India’s Avenue Supermarts eyes $561m from QIP

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By Jonathan Breen
06 Feb 2020

Avenue Supermarts, which runs Indian supermarket chain DMart, has launched a qualified institutional placement worth about Rp40bn ($561.3m).

The new share sale was opened on Wednesday and comprises 20m shares, which Avenue Supermarts is offering at a floor price of Rp1,999.04 apiece, approved by the Securities and Exchange Board of India. The regulator allows up to a 5% discount to the floor.

The floor price is ...

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