Avenue Supermarts (ASL), founded in 2002, is the owner of well established supermarket chain D-Mart. ASL is amongst the largest and the most profitable Food & Grocery retailer in India. It offers wide range of Food and non-food products. ASL operates total 118 stores in 9 states and 1 Union Territory.

Commenting on the investment rationale, Angel Broking said, "At the upper end of the price band, the pre-issue P/E works out to be 32.5x its annualised 9MFY2017 earnings, which is lower compared to P/E multiple of its peers i.e. Trent - 73.9x, Shoppers Stop - 123.8x and Future Retail 36.5x.

Better RoE profile, promoter's strong background, strategically located stores, intense focus on maintaining lower costs and strong brand perception are the compelling factors indicating that ASL is a long term story that will unfold going ahead. Thus, we recommend a SUBSCRIBE on this issue.''

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