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  #1  
Old 18th February 2017, 10:58 PM
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Default D-Mart - Avenue Supermarts IPO



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. Company offers a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories.

Quote:
An indicative timetable in respect of the Offer:
Bid/Offer Opens On: 8 Mar 2017
Bid/Offer Closes On: 10 Mar 2017
Issue Size: 6,23,93,631 Equity Shares
Issue Price: Rs 290 - Rs 299 Per Equity Share
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.

DMart IPO Details - Date, Prospectus, Allotment, Listing, Reviews & Status
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  #2  
Old 20th February 2017, 11:37 AM
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This looks to be a very good retail stock and a very well run business. Planning to invest in this for long term.
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  #3  
Old 20th February 2017, 02:16 PM
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D-Mart is a well known name in western India.

I still haven't seen the recent financial statements of the company and so won't comment on the valuations, but there is good demand for D-Mart in the grey market.
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  #4  
Old 21st February 2017, 09:28 PM
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9 reasons why D-Mart issue is making waves in IPO market - The Economic Times

DMart may seek Rs 18,000 crore valuation at IPO - The Economic Times
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  #5  
Old 1st March 2017, 01:13 PM
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The price band is 295-299.

What's the point in having such a narrow price band? They could have just brought it as a fixed price issue.
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  #6  
Old 1st March 2017, 02:43 PM
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The more I read about the company, the more I like it.

Even though the valuations will be stretched after the stock lists, I feel this stock can be held for the long term.

With D-Mart IPO, reclusive RK Damani readies for big league - Moneycontrol.com

Inspiring Success Story of Radhakishan Damani - The Founder & Promoter of Dmart
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  #7  
Old 2nd March 2017, 08:55 PM
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Quote:
Originally Posted by Alchemist View Post
The more I read about the company, the more I like it.

Even though the valuations will be stretched after the stock lists, I feel this stock can be held for the long term.

With D-Mart IPO, reclusive RK Damani readies for big league - Moneycontrol.com

Inspiring Success Story of Radhakishan Damani - The Founder & Promoter of Dmart
Though I haven't read much but what I know about this company is they are not in mad rush to just expand for sake of getting quick and easy loan.That's the reason even though they are not at my place but for testing they are around with Dmart ready just to check how good orders they get.

http://rakesh-jhunjhunwala.in/honcho...t-ipo-bonanza/

Last edited by magnet : 2nd March 2017 at 09:52 PM.
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  #8  
Old 5th March 2017, 08:27 AM
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– Radhakishan Damani
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  #9  
Old 5th March 2017, 07:12 PM
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Expected listing price is 500.

Most analysts are advising clients to hold for the long term.

If a large number of IPO allottees decide to hold for the long term or if more long term investors (DIIs, FIIs etc) buy on listing, the stock may go towards 600 in the medium term.

If I get allotment, I don't plan to sell unless I see an exceptionally high price on listing.
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  #10  
Old 6th March 2017, 09:21 PM
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I know of their business and I know they are the ones who can be the Walmart of India at some stage rather than all the others. I'm planning to invest and probably will buy from the secondary market if it doesn't have a huge pop (less than 20%). Probably will be heavily over-subscribed.
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  #11  
Old 7th March 2017, 05:04 PM
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Grey market price is over 500 now.

Whoever gets allotment will be a very luck guy. .
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  #12  
Old 8th March 2017, 08:57 AM
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Quote:
Originally Posted by Alchemist View Post
Grey market price is over 500 now.

Whoever gets allotment will be a very luck guy. .
Okay then it is not for me .
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  #13  
Old 8th March 2017, 09:21 AM
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Quote:
Originally Posted by Alchemist View Post
Grey market price is over 500 now.

Whoever gets allotment will be a very luck guy. .
Now I am never that lucky one.But who knows. It's better always to keep trying and play the waiting game rather than sulking.
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  #14  
Old 8th March 2017, 09:25 AM
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Quote:
Originally Posted by paran View Post
Okay then it is not for me .
We are looking at a minimum of 60%-70% gains on listing.

Even the most "unluckiest" investors should try their "luck" this time.
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  #15  
Old 8th March 2017, 10:23 AM
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Quote:
Originally Posted by Alchemist View Post

Even the most "unluckiest" investors should try their "luck" this time.
Then I will try in The most "unluckiest" trader quota

Alchemist jee what are the chances of allotment, I remember way back you showed how to calculate the probable allotment , but I forgot bcoz I never applied any IPO . If you have time to spare plz show the math again.

Last edited by ramkasi : 8th March 2017 at 10:28 AM.
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  #16  
Old 8th March 2017, 10:49 AM
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Quote:
Originally Posted by ramkasi View Post
If you have time to spare plz show the math again.
Nowadays almost all applicants apply for a single lot only.

Thus probability of allotment is reciprocal of the total subscription figure.

If an issue is subscribed 10 times in the retail segment, the probability of allotment is 1/10 = 10%

For Avenue Supermarts IPO, I expect 7-8 times subscription in retail segment.

I have already applied. .
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  #17  
Old 8th March 2017, 11:08 AM
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Quote:
Originally Posted by Alchemist View Post
Nowadays almost all applicants apply for a single lot only.

Thus probability of allotment is reciprocal of the total subscription figure.

If an issue is subscribed 10 times in the retail segment, the probability of allotment is 1/10 = 10%

For Avenue Supermarts IPO, I expect 7-8 times subscription in retail segment.

I have already applied. .
Applied from 2 Account using SBI ASBA service. First time doing it through SBI.
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  #18  
Old 8th March 2017, 12:02 PM
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0.23 times subscribed already.

The rate at which the applications are coming, I feel the issue may get fully subscribed today itself and last day will see mammoth demand.
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  #19  
Old 8th March 2017, 01:20 PM
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How much is the expected time taken to unblock the money? Does it also takes 2 weeks from the closure similar to NCDs. Is there any maximum time limit?
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  #20  
Old 8th March 2017, 01:50 PM
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Applied one lot from 3 accounts.
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  #21  
Old 8th March 2017, 02:32 PM
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Quote:
Originally Posted by rajivka View Post
How much is the expected time taken to unblock the money? Does it also takes 2 weeks from the closure similar to NCDs. Is there any maximum time limit?
Takes 7-8 days from date of closing.
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  #22  
Old 9th March 2017, 02:07 AM
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This is again a lottery !!

Applied to check the luck :-)
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  #23  
Old 9th March 2017, 12:26 PM
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Grey market brokers are no longer buying applications for Avenue Supermarts IPO because they are not sure whether these applications will get any allotment.

Quote:
Brokers in Mumbai and Gujarat, known to hire demat accounts of retail investors to corner subscription, issued a diktat on Wednesday that rent will be paid only on those subscription forms that get allotment. This is against the usual practice where brokers pay a certain amount upfront to all retail investors who subscribe on their behalf.
IPO: Grey market in a tizzy on signs of bumper subscription for D-Mart IPO - The Economic Times

Grey market premium is around 250 now. Expected listing price 550.
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  #24  
Old 9th March 2017, 09:38 PM
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I remember this calculation Alchemist. And it was absolutely correct when I had checked for one of the IPOs. The variance is at max 10%.
Quote:
Originally Posted by Alchemist View Post
Nowadays almost all applicants apply for a single lot only.

Thus probability of allotment is reciprocal of the total subscription figure.

If an issue is subscribed 10 times in the retail segment, the probability of allotment is 1/10 = 10%

For Avenue Supermarts IPO, I expect 7-8 times subscription in retail segment.

I have already applied. .
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  #25  
Old 9th March 2017, 09:42 PM
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What's a fair value for this stock? Till what price should you do a secondary market buy for this. Applied for 3 applications, with one large application just in case everyone decides to pull their money out from this .
Quote:
Originally Posted by Alchemist View Post
The more I read about the company, the more I like it.

Even though the valuations will be stretched after the stock lists, I feel this stock can be held for the long term.

With D-Mart IPO, reclusive RK Damani readies for big league - Moneycontrol.com

Inspiring Success Story of Radhakishan Damani - The Founder & Promoter of Dmart
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  #26  
Old 10th March 2017, 07:51 AM
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Quote:
Originally Posted by entee View Post
What's a fair value for this stock? Till what price should you do a secondary market buy for this. Applied for 3 applications, with one large application just in case everyone decides to pull their money out from this .
"Fair value" is different for different investors and changes with factors like risk appetite, holding period etc.

In my opinion, the fair value is somewhere in the 400-450 range. I am assuming a holding period of just 2 years. For longer term investors, the fair value may be higher.

I don't think the price will fall to those levels.

It is an excellent company with a trustworthy management. There are many investors who are willing to pay a premium for such companies.

If I see a price around 510, I will buy and hold for a few weeks or maybe months. I think 650 is possible in near future.

Considering the strong demand in the grey market, I won't be surprised if the stock doubles on listing.
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  #27  
Old 10th March 2017, 10:39 AM
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Thanks Alchemist. I'm going to read a bit more on PE ratio for this company compared to peers. Multi baggers are rare and I believe it isn't easy to identify them. But the more I read about it, the more I feel, this is one of those companies which can be a 10X multi bagger in 10 years.
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  #28  
Old 10th March 2017, 10:45 AM
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Applied from 2 Accounts using ASBA service as always on first day itself.

Not lucky though if I look at my history of allotment

No Harm to try again. .

Happy Investing!
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  #29  
Old 10th March 2017, 11:04 PM
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Quote:
Originally Posted by San Yad View Post
Applied from 2 Accounts using ASBA service as always on first day itself.

Not lucky though if I look at my history of allotment

No Harm to try again. .

Happy Investing!
Applied 1 lot from 1 account and 132 lots from another account. Hope to receive at least 1 lot.
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  #30  
Old 11th March 2017, 08:25 AM
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Quote:
Originally Posted by rajivka View Post
Applied 1 lot from 1 account and 132 lots from another account. Hope to receive at least 1 lot.
NII category is subscribed 277.74 times.

You have 47.5% probability of getting 1 lot from the 132 lots application.

Retail category subscribed 7.51 times.
QIB category subscribed 144.62 times.

With less than 1% allotment in the NII and QIB category, there will be huge demand for the stock in secondary market.

Also, almost everybody agrees that this is a good stock to hold for the long-term.

Demand for the stock will be much higher than the supply when it lists. I feel the stock can cross 600 soon after listing.
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  #31  
Old 17th March 2017, 05:03 AM
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Company needs to dilute more in order to meet the stipulated 75% promoter holdings. There are rumors of a planned QIP in 6 months at a 4-digit price. Hence, it would be wise for people to hold on - who ever gets allocation.
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  #32  
Old 18th March 2017, 11:04 AM
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Got allotment in 1 out of 3.

Surprised
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  #33  
Old 18th March 2017, 11:45 AM
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Quote:
Originally Posted by paran View Post
Got allotment in 1 out of 3.

Surprised
ohh That's great paranjee, I didn't apply. My broker said I can't apply online.
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  #34  
Old 18th March 2017, 12:29 PM
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Link Intime's website has crashed.

The allotment can be checked here:

Link Intime India Pvt Ltd - IPO Allotment Status
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  #35  
Old 18th March 2017, 12:57 PM
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Got none from 2 applications.
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  #36  
Old 18th March 2017, 01:12 PM
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Link Intime India Pvt Ltd - IPO Allotment Status

Lucky in 2 out of 5. Anyways I don't plan to exit on listing.
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  #37  
Old 18th March 2017, 02:49 PM
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Did anyone applied by HDFC securities retail ASBA for Dmart IPO and was allotted shares ? I find the online IPO of HDFC is having some problem, esp their frequent software updates.
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  #38  
Old 18th March 2017, 04:30 PM
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Originally Posted by saveinvest View Post
Did anyone applied by HDFC securities retail ASBA for Dmart IPO and was allotted shares ? I find the online IPO of HDFC is having some problem, esp their frequent software updates.
Mine is with HDFCSec only.

Asba retail is the only option available now to apply.
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Old 18th March 2017, 10:15 PM
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Is it advisable to buy Dmart shares after listing say about Rs 650 ? What is the suggested price to enter for long term?

Is it advisable to buy any other company shares like future retail now considering they have run up a lot in the last weeks?
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Old 19th March 2017, 08:25 AM
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Originally Posted by saveinvest View Post
Is it advisable to buy Dmart shares after listing say about Rs 650 ? What is the suggested price to enter for long term?

Is it advisable to buy any other company shares like future retail now considering they have run up a lot in the last weeks?
I don't track the Future Group stocks.

I may buy some shares for the long-term but right now I am not sure at what price.

I will decide on the listing day after looking at the supply-demand situation in the pre-open session.

I expect a strong listing for D-Mart - around 565-570. At that price, the stock will have a significant free float (around Rs 2500 crore) and demand from day traders, on its own, won't be enough to take the stock higher. Institutional demand will decide where the stock goes on listing day.

In my opinion, 650 is too high a price to pay, unless one has an investment horizon of over 5 years.

That doesn't mean the stock can't touch 650 or 700 just after listing. Many institutions invest in stocks with an intention to hold for very long periods. Often such investors pay much more than current fair value to get the stock that they like.
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