Air India Western Region celebrates Hindi Pakhwada

Air India Western Region celebrated Hindi Pakhwada from 1428 Sept 2016. A function was held on 28 Sept to felicitate the prize winners at Air India Staff Training College Mumbai. Avenue Supermarts Limited, parent company of DMart, plans to raise up to Rs 18,700 million through its IPO. The company has filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO).

The company which owns and operates supermarkets and hypermarkets, has proposed to utilise the net proceeds from the issue for repayment or prepayment of a portion of loans and redemption or earlier redemption of NCDs availed by the company; and construction and purchase of fit outs for new stores and general corporate purposes. The NCDs amount stood at Rs 10,800 million and construction and purchase of fit outs for new stores stood at Rs 3,666 million.

While, the revenue of the company stood at Rs 86,061 million, its total expenses were at Rs 81, 138 crore in year ended March 31, 2016. The company has currently 110 operational stores across India.

Kotak Mahindra Capital Company Limited is the global co-ordinator and book running lead manager to the issue. Axis Capital Limited, Edelweiss Financial Services Limited, HDFC Bank Limited and ICICI Securities Limited, Inga Capital Private Limited, J M Financial Institutional Securities Limited, Motilal Oswal Investment Advisors Private Limited and SBI Capital Markets Limited are other book running lead managers to the issue.