Avenue Supermarts BSE IPO

Overview:

• Avenue Supermarts (ASL), an Indian supermarket chain, has launched a $285 million IPO on the Bombay Stock Exchange (BSE) and Rule 144A/Regulation S global offering.
• The offering was oversubscribed nearly 105 times.
• Anchor investors in this IPO include GIC, General Atlantic, Norway's Government Pension Fund Global, venture capital firm Volrado Venture Partners, funds of foreign investors such as JPMorgan, Fidelity, Goldman Sachs and T Rowe Price Asia, and private equity firm Acacia Banyan Partners. Indian asset managers ICICI Prudential, HDFC Trustees, Reliance Capital Trustees and Birla Sun Life Asset Management were also participants.
• The bank syndicate was led by Kotak Mahindra Capital, and also comprised Axis Capital, Edelweiss, HDFC, ICICI Securities, Inga Capital, JM Financial, Motilal Oswal and SBI Capital.

Wai Yee Tsang - Journalist