ICICI MF emerges among top investors in DMart QIP

ICICI MF emerges among top investors in DMart QIP with 5.85% shares:

To begin with, on Feb 11, the Avenue Supermarts managed DMart supermarket chain said about its QIP issue. The DMart assigns around 5% of shares to the ICICI MF, Singapore Govt, Lone Cypress Ltd, and Euro Pacific Growth Fund in its QIP Issue. 

The DMart QIP issue subscription started on 5th Feb and it ended on 10th Feb. On Tuesday, the company board approved the issue as well as, it assigns around 20,000,000 eq shares. The face value of the issue is Rs 10 per eq share for the eligible QIBs. The issue price of Rs 2,049 per eq share with aggregating to Rs 4,098 cr. 

Moreover, the DMart share trading with a gain of 118.50 points reached 2,513.00 INR with a 4.95% rise. Its previous close at 2,394.50 INR. DMart Share outstanding with 627,774,691.

List of companies, the DMart QIP issue allotted above 5% shares:

  • Lone Cypress Limited having 11.97% of the share from the entire stake.
  • The Share allocated for the Government of Singapore has 8.48%
  • The Euro Pacific Growth Fund having 5.96% shares.
  • Finally, the ICICI Prudential Bluechip Fund has 5.85% shares.

On Feb 10, the DMart shares trading with 11% growth and records a high of Rs 2,537 per eq share. Also, the company’s market capitalization over Rs 1.5 lakh cr. Furthermore, the DMart will use QIP proceeds to expand its store network, invest in supply chain and repay loans. 

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