The market capitalization of Avenue Supermarts, the D-Mart retail chain operator, crossed Rs 1.5 lakh crore after the share price touched a 52-week high of Rs 2,537 apiece on Monday.

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The stock has gained over 28 percent in the last one month and 91.91 percent in the last 9 months.

The company had a market capitalisation of Rs 39,988 crore when the company was listed on the exchanges on March 21, 2017.

The market value of the company surpassed Nestle's and Bajaj Finserv's yesterday to become India’s 18th most valuable company.

The Radhakishan Damani-owned company launched a qualified institutional placement (QIP) on February 5 to raise up to Rs 4,000 crore. The company had said it will sell as many as 2 crore shares through the QIP, at a floor price of Rs 1,999.04 apiece. It aimed to dilute the promoter stake to meet minimum public shareholding norms.

Avenue Supermarts received around Rs 24,000 crore worth of demand for the issue and a lot of global as well as domestic fund houses put their bids, reported CNBC-Awaaz quoting sources.

In the third quarter of fiscal 2020, the company reported a robust 53.3 percent YoY growth in net profit while revenue surged 23.9 percent. Standalone net profit in Q3FY20 was Rs 394.3 crore and revenue was reported at Rs 6,751.9 crore.

At the operating level, earnings before interest, tax, depreciation and amortization (EBTIDA) increased 30.8 percent on year to Rs 593.1 crore, and its EBITDA margin expanded by 50 basis points to 8.8 percent in Q3FY20.

At 12:40 pm today, shares of Avenue Supermarts traded 2.94 percent lower at Rs 2,411 on the BSE.