DMart listing: First time in 12 years an IPO saw over 100% listing gains on day 1

Avenue Supermarts Limited (ASL) – operator of D-Mart retail stores, on its market debut on Tuesday closed at Rs 649.95 per piece on BSE, up Rs 341.75 or 114.30% compared to its IPO issue price of Rs 299 per share.

ASL came up with it's IPO issue on March 08, 2017, which closed at March 10, 2017, to raise Rs 1,870 crore and was over-subscribed nearly 105 times.

With this blockbuster listing, ASL became the first company in twelve years to get listed at a premium of over 100%.

Data provided by Prime Database showed that the last IPO that listed with over 100% premium was in 2005.

ASL's listing price stands at fifth place after FCS Software Solution which got listed at 200% premium in 2005, followed by Indraprastha Gas Limited with 150% premium (2003), Nandan EXIM with 140% premium (2005) and TV Today Network which got listed at premium of 121% in the year 2005.

Not only this, ASL was also third highest IPO to get subscribed over 100 times.

Last year, Quess Corp's Rs 400 crore IPO had received subscription of nearly 144 times. Advanced Enzyme too got subscribed by 116 times.

During last fiscal (FY16), ASL registered revenues of Rs 8,650 crore, compared to its peers where Reliance had total revenue of Rs 6,650 crore and Future Group along with Bharti Group had total revenue of Rs 11,000 crore.

ASL's profitability is growing at a CAGR (compounded annual growth rate) of 51.56% from Rs.60.41 crore in Fiscal 2012 to Rs.318.76 crore in Fiscal 2016. For nine month ended period of current fiscal (9MFY17), profit after tax (PAT) of the company stood at Rs.387.47 crore.