ICICI Pru Bluechip Mutual Fund among top investors in DMart QIP issue1 min read . Updated: 11 Feb 2020, 12:23 PM IST
- Govt of Singapore was also another top investor in DMart QIP issue
- DMart raised ₹ ₹4,098 crore through the QIP issue
Avenue Supermarts, which operates DMart supermarket chain, today said that ICICI Pru Bluechip Mutual Fund, Singapore Govt, Lone Cypress, Ltd and EuroPacific Growth Fund have been allotted over 5% of the recently concluded qualified institutional placement or QIP issue. DMart's QIP issue had opened on February 5, 2020 and closed on February 10.
DMart's board today approved the issue and allotment of 20,000,000 equity shares of face value Rs. 10 each to eligible qualified institutional buyers at the issue price of ₹2,049 per equity share, aggregating to ₹4,098 crore.
DMart's shares were today trading 2.6% lower at ₹2418 in noon trade.
List of allottees who have been allotted more than 5% of the equity shares offered in DMart QIP issue:
1. LONE CYPRESS, LTD - 11.97% (percentage of total issue size)
2. GOVERNMENT OF SINGAPORE - 8.48%
3. EUROPACIFIC GROWTH FUND - 5.96%
4. ICICI PRUDENTIAL BLUECHIP FUND - 5.85%
DMart shares had surged as much as 11% in Monday's trade to a record high of ₹2,537 per share, pushing its market capitalisation past the ₹1.5 lakh crore mark. In this process, DMart had become the 18th most valuable company on BSE in terms of market capitalisation, ahead of Nestle India and Bajaj Finserv.
DMart will use QIP proceeds to expand its store network, invest in supply chain and repay loans.