India: D-Mart parent Avenue Supermarts working on $177m IPO

India: D-Mart parent Avenue Supermarts working on $177m IPO

Avenue Supermarts has been opening 10-15 D-Mart stores per annum and hopes to continue or accelerate it depending on the market, says CEO Neville Noronha. Photo: Aniruddha Chowdhury/Mint

Avenue Supermarts Ltd, which owns and operates hypermarkets and supermarkets retail chain D-Mart, has started discussions with investment banks for an initial public offering (IPO), three people aware of the development said.

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