Avenue Supermarts sets price range for up to $280 million IPO

Avenue Supermarts Ltd will sell shares in its initial public offering of up to 18.7 billion Indian rupees ($280.4 million) in a price range of 295-299 rupees a share, it said in a public notice on Wednesday.

The IPO of the supermarket operator, which operates 118 stores across 45 cities under the "D'Mart" brand, opens for public subscription on March 8 and closes on March 10.