Avenue Supermarts Ltd. (D-Mart) is looking to raise up to INR 20 billion through an Initial Public Offer (IPO) of its equity shares. Avenue Supermarts has moved a resolution to seek approval for the issue from its shareholders at the coming annual general meeting. Avenue Supermarts has also sought shareholder approval to borrow up to INR 20 billion. According to reports, the company has appointed four investment bankers for the IPO. Though the company has not given any time frame, reports indicate the IPO is likely to hit the market in the second half of the next calendar year.