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Avenue Supermarts Limited IPO (DMart IPO) Detail

Incorporated in 2002, Avenue Supermarts Limited is Mumbai based supermarket chain D-Mart. Company is among the largest and the most profitable F&G retailer in India. Commpany offer a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories.

Company has 112 stores located across 41 cities in India. Company operate and manage all its stores. Company also operate distribution centres and packing centres which form the backbone of the supply chain to support its retail store network. Company has 21 distribution centres and six packing centres in Maharashtra, Gujarat, Telangana and Karnataka.

Company Promoters:

The Promoters of the Company are:

1. Radhakishan S. Damani;
2. Gopikishan S. Damani;
3. Shrikantadevi R. Damani;
4. Kirandevi G. Damani;
5. Bright Star;
6. Royal Palm Trust;
7. Bottle Palm Trust;
8. Mountain Glory Trust;
9. Gulmohar Trust; and
10. Karnikar Trust

Company Financials:

Summary of financial Information
Particulars For the year/period ended (in Rs. Million)
31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13 31-Mar-12
Total Assets 31,001.94 23,548.12 18,076.48 14,920.74 11,908.76
Total Revenue 86,061.05 64,576.89 47,023.25 33,551.04 22,224.09
Profit After Tax (PAT) 3,212.07 2,116.89 1,613.72 938.55 604.06

Objects of the Issue:

The net proceeds of the IPO are proposed to be used as set forth below:

1. Repayment or prepayment of a portion of loans and redemption or earlier redemption of NCDs availed by the Company;
2. Construction and purchase of fit outs for new stores;
3. General corporate purposes.

Issue Detail:

  »»  Issue Open:
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size:
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs. - Rs. Per Equity Share
  »»  Market Lot:
  »»  Minimum Order Quantity:
  »»  Listing At: BSE, NSE

DMart IPO Prospectus

DMart IPO Rating

Rating:Rated 4.2 stars

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DMart IPO News Alerts

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Company Contact Information

Avenue Supermarts Limited
B - 72/72A, Wagle Industrial Estate,
Road No. 33, Kamgar Hospital Road,
Thane - 400 604
Phone: 022 3340 0500
Fax: 022 3340 0599

DMart IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969

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DMart IPO Review / Comments

334. Sophocles  Feb 21, 2017 6:37:03 PM IST | I Like It. 2 | Report Abuse Reply
I suspect the messages by egleeye ma''am and septha sir are deliberately being blocked.. I also suspect they are blocking/deleting messages requesting/inquiring information about them..

Their names I have deliberately misspelled so that my message may not be blocked ..
333. RAJGURU  Feb 21, 2017 6:00:00 PM IST | I Like It. 1 | Report Abuse Reply
egleye kaha he...kaha he egleye.
332. MUDIT NATANI  Feb 21, 2017 4:18:45 PM IST | I Like It. 4 | Report Abuse Reply
Avenue Supermarts IPO

Gmp 188-192

Kostak 2200-2300
331. hawkeyeee  Feb 21, 2017 1:24:30 PM IST | I Like It. | Report Abuse Reply
This message has been removed by a moderator.
331.1. EAGLE TRADE  Feb 21, 2017 2:03:05 PM IST | I Like It. 1 | Report Abuse
want to sell@2000/application
331.2. rvr  Feb 21, 2017 3:42:21 PM IST | I Like It. | Report Abuse
@rs1100 you are buying..seems cheap bargain..mmm
330. DARSHIT KAUSHAL  Feb 21, 2017 8:54:05 AM IST | I Like It. 1 | Report Abuse Reply
Today D-MART GREY MARKET PREMIUM RS 180-183 kostak 2150-2200/-
329. S J P Shares  Feb 20, 2017 10:20:06 PM IST | I Like It. 9 | Report Abuse Reply
D-Mart IPO- King of Retail

Since the days of Harshad Mehta, RadhaKrishna Damani is known to be the man of Midas touch. He is the big Bull Rakesh Jhunjhunwala’s Guru and a Ace Investor.

RadhaKrishna Damani started his own venture D-mart Retail 17 years back in 2000 and D-Mart is expected to be listed at 18,000 Crores of Valuation next month. The Current Grey Market Premium on this issue is 50% or 150 per share,In next 3 mins, you will definitely learn what makes D-mart so special.

Introduction to D-Mart – D Mart is third largest in the sector after Reliance Retail and Kishore Biyani’s Future Group. D Mart is one of the few profit making grocery retailers, known for low-priced products and a low-cost business model. 53% of D-Marts revenue comes from Food, 21% from FMCG and 26% General Merchandise and Apparel. Business model is easy i.e. to retail quality goods at competitive prices. The majority of products stocked by them are everyday products forming part of basic rather than discretionary spending. D-Mart had 112 Stores at End of FY2016 with presence in 8 States and 41 cities, Maharashtra contributed 63% of revenue whereas Gujarat contributes 19%

Why is D-Mart so Successful? (Moat Around the Business)

#Factor 1- Ownership of all Properties – Avenue Supermarts currently owns all its properties which eliminates rental cost. Rental costs typically account ~ 3 % – 8% for peers. It operates predominantly on an ownership model (including long-term lease arrangements, where lease period is more than 30 years and the building is owned by it) rather than on a rental model.

#Factor 2- Revenue Per Square Feet – This is the real big difference between a great business and a mediocre one. A Great business sweats its assets a lot more than the mediocre one. D-mart, Reliance Retail and Future Retail (Big Bazaar) have broadly the same product portfolio but D-mart does sales of 28,136 per Sq. feet whereas Reliance and Future do half of that at 13,901 Per Sq Feet and 12,914 Respectively.

#Factor 3 – Inventory Turnover – If there was one Ratio that we could have looked at and judged a Retail franchise, that would be Inventory Turnover. D-mart kills competition here, its like the Zara of FMCG Retail. D-mart Inventory Turnover is 14.18 (26 days) v/s 4.9x (75 Days) for Future Retail.

#Factor 4 – Shift from Unorganized to Organized – We expect a very large shift from unorganized sector to organized sector, Organized retail is expected to grow at 21% whereas unorganized retail is expected to grow at 11.7%. We believe post GST, the pace of shift from unorganized to organized will be faster which will benefit D-Mart.

#Factor 5 – Growth led by Same Store Growth Plus Expansion – D-Mart’s Same store growth in last 3 years has been an astonishing with 26%, 22% and 21% for FY 2014,2015, and 2016. They plan to add 2.1 Million Square feet or about 70 new stores by 2020 (Assuming every story is 30-35k Sq Feet). D-mart has been the fastest growing retailer and increased revenues from 2200 Crores in 2012 to 8,600 crores in 2016

#Factor 6 – Gross Margins – D-mart has the lowest Gross margin among all Players and still has the highest operating margin, making it a Moat. In a commodity business, the most efficient player wins, D-mart has show how selling its goods with economies of scale makes a it superb business model. D-Marts Gross margins are only 52% whereas Future Group its 65%, showing D-mart is passing the cost benefit to its customers and selling it cheaper than peers which ensures higher revenue per sq. feet.

#Factor 7 – Employee Cost – D-Mart has the Least number of Employees per square foot i.e. 1 employee for 800 Square feet whereas competitors have 1 employee for every 400-500 Sq. Feet (you don’t need someone to help you buy Maggi, do you?). This makes D-mart far more efficient compared to competition.

#Factor 8 – Return on Equity – By now i am sure you understood D-mart’s business model,You might be thinking that D-mart is a asset heavy business as it doesn’t rent properties rather it buys them, but D-mart has shown that even after having a very heavy asset base it has managed to deliver 20%+ Return on equity.

D-mart Final 3

#Factor 9 – Comparison with Global Peers – D-Marts model is similar to that of Walmart, with a lot of owned stores, very high inventory turnover and low debt on balance sheet.Costco a members only wholesaler which has created immense value in last decade also a model of Economies of Scale. Zara and Walmart have proven that the only way to great value in retail is sell cheap and increase your Inventory turnover.

Global Peer

Stallion’s View – D-Mart is a Consumer facing business who has cost leadership as it pays all his suppliers within 15 days against a cash discount, passes this cost benefit to customers with lowest gross margins in the Industry at 52%. D-Mart has been Smart with its cost management compared to its peers, and even after being a asset heavy business model its ROE is more than 20%+ .D- Mart is Expected to come with a Valuation of 18,000 or about 40x FY2017 PE. D-mart has a strong Business model, Longevity and Growth on its side. The organized Retail is expected to grow at 21% for next 10 years, which ensures D-Mart won’t trade at cheap valuations for a long long time.

We Recommend a Subscribe on Avenue Supermart IPO (D-mart) and Believe it will list at 400/Share plus atleast📗📗📗📗💥💥💥💥
328. PavanM  Feb 20, 2017 8:04:55 PM IST | I Like It. | Report Abuse Reply
Is it sure that DMart IPO will be priced at 290-299 or still chance to hike price band? without confirmation on price band how does kostak, GMP transactions taking place ?
328.1. PavanM  Feb 20, 2017 10:10:36 PM IST | I Like It. | Report Abuse
I have 2 queries regarding IPO applictions.
1. Is there any provision in HDFC online banking to apply against third persons dmat account like how State bank and Axis bank provides?
2. suppose I want to open DMAT account in name of person A & person B, is Joint account for A & B sufficient or should we open individual bank accounts for person A & person B?

Please reply and help asap.
328.2. dpcdsl  Feb 21, 2017 3:55:33 PM IST | I Like It. | Report Abuse
1. HDFC Bank allows only account holder to apply on line but same bank account can be used (maximum 5 ASBA application) if submitted through printed hard copies of applications wherein applicant''s sign on left side and bank account holders'' sign on right side of forms.

2. As already elaborated, one single bank account either in joint name or single name of any one, means A or B can be used for separate applications of A and B.
327. ronakmds  Feb 20, 2017 7:58:56 PM IST | I Like It. | Report Abuse Reply
Can anyone give me a brief detail about this IPO.
Because it doesnt give clear idea from the above description.
326. Dharmesh bhai  Feb 20, 2017 7:47:12 PM IST | I Like It. | Report Abuse Reply
182/184.D mart
325. unknown  Feb 20, 2017 7:07:41 PM IST | I Like It. 3 | Report Abuse Reply
In dmart IPO the circuit filter in pre-open will be 75℅ of issue price i e. 300/-+225/-=525/-.In this case then@ 10 am if again 20℅ circuit apply then the forward trades will be settled on next from tomorrow onwards no new trades will be done till prem stabilised
325.1. Dharmesh bhai  Feb 20, 2017 8:17:44 PM IST | I Like It. | Report Abuse
welcome mehta sir
324. Default Investor  Feb 20, 2017 6:27:59 PM IST | I Like It. 2 | Report Abuse Reply
This message has been removed by a moderator.
324.1. Dharmesh bhai  Feb 20, 2017 7:48:01 PM IST | I Like It. 1 | Report Abuse
323. ShareView  Feb 20, 2017 4:41:54 PM IST | I Like It. 2 | Report Abuse Reply
Stock Market discussion forum of chittorgarh LinkExternal Link

322. ShareView  Feb 20, 2017 4:16:32 PM IST | I Like It. 2 | Report Abuse Reply
Varun results out

1st result after IPO

Loss saga continues as soon as IPO procedure completed
Tomorrow it will crashed definitely
321. vishal noida  Feb 20, 2017 3:20:58 PM IST | I Like It. | Report Abuse Reply
I have canara bank share
I need to apply for ex rights

please explain record date : 20th feb, ex right date : 17th feb

diff between record date and ex right date
320. ramesh jariwala  Feb 20, 2017 1:18:48 PM IST | I Like It. | Report Abuse Reply
U Can D Mart IPO Just For Brokerage Expense IN My Word So Open 7% To 12%
Rating 5 / 10*

I have got this msg regar dmart ipo..
i cany understand what he want to say..
320.1. RAJGURU  Feb 20, 2017 4:05:14 PM IST | I Like It. | Report Abuse
i dont understand wt u want to say..
319. dipak  Feb 20, 2017 12:26:15 PM IST | I Like It. | Report Abuse Reply
Hello eagle eye can u please guess how many times d mart IPO can get subscribed in retail segment as on the basis of that I have to sell via kostak.thank u and kindly reply
319.1. manjitsingh  Feb 20, 2017 12:30:06 PM IST | I Like It. | Report Abuse
15 lakh applications expected
319.2. rvr  Feb 20, 2017 2:06:05 PM IST | I Like It. | Report Abuse
so oversubscription expectetd 3 to 4 times ? is it?
318. DARSHIT KAUSHAL  Feb 20, 2017 11:55:24 AM IST | I Like It. | Report Abuse Reply
317. DARSHIT KAUSHAL  Feb 20, 2017 11:54:18 AM IST | I Like It. 2 | Report Abuse Reply
GMP Trend Report
On 17.02.2017,at 05.00 pm , GMP Rs 173-177, Kostak Rs.2100
On 17.02.2017,at 10.00am , GMP Rs 166-168, Kostak Rs.2000
On 16.02.2017,at 10.00am , GMP Rs 168-170, Kostak Rs.2000
On 15.02.2017,at 11.00am , GMP Rs 168-170, Kostak Rs.2000
On 13.02.2017,at 11.30am , GMP Rs 173-176, Kostak Rs. 1900
On 11.02.2017,at 10.30am , GMP Rs 158-160, Kostak Rs. 1800-1900
On 10.02.2017,at 10.30am , GMP Rs 158-160, Kostak Rs. 1600
On 09.02.2017,at 011.0am , GMP Rs 160-163, Kostak Rs. 1700-1800
On 08.02.2017,at 07.30pm , GMP Rs 154-155, Kostak Rs. 1700
On 08.02.2017 at 10.00 am GMP Rs. 144-145 Kostak Rs. 1700
On 07.02.2017 at 9.30 pm GMP Rs. 160-165 Kostak Rs. 1900
On 07.02.2017 at 10.00 am,GMP Rs. 135-140 Kostak Rs. 1500
On 06.02.2017 GMP Rs 120-125, Kostak Rs. 1300
317.1. MUDIT NATANI  Feb 20, 2017 1:24:53 PM IST | I Like It. | Report Abuse
From where you get this data and then copy and paste.
316. Raj Agra  Feb 20, 2017 11:07:05 AM IST | I Like It. | Report Abuse Reply
Kostak Please
316.1. DARSHIT KAUSHAL  Feb 20, 2017 11:34:36 AM IST | I Like It. 1 | Report Abuse
GMP 170-180 (KOSTAK 2100/)
316.2. DARSHIT KAUSHAL  Feb 20, 2017 11:35:35 AM IST | I Like It. 1 | Report Abuse
RS 2100/-
315. Karan  Feb 19, 2017 6:00:52 PM IST | I Like It. 1 | Report Abuse Reply
IRB InvIT Fund, an investment trust sponsored by IRB Infrastructure Developers, has received markets regulator Securities and Exchange Board of India''s (Sebi''s) approval to raise Rs 4,300 crore through initial public offering (IPO).

IRB InvIT Fund had filed its draft papers in September 2016 and got ''observation'' from Sebi on February 9, which is necessary for any entity to launch public offer.

According to draft papers, IRB InvIT''s IPO comprises fresh issue of units worth up to Rs 4,300 crore by the trust and an offer for sale of units by IRB Infrastructure Developers and its subsidiaries — Modern Road Makers, Aryan Toll Road, ATR Infrastructure and Ideal Road Builders.

The Mumbai-based toll road developer is the sponsor of IRB InvIT Fund (trust), an infrastructure investment trust registered with Sebi, while IRB Infrastructure Pvt Ltd is the investment manager to the trust.

The investment manager, in consultation with the global coordinators and book running lead managers to the issue, reserves the option to retain over subscription of up to 25 per cent of the issue size in accordance with the InvIT norms.
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