Intraday Tips, Will D-Mart IPO ring a bell for a market top out in short term?

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With the results of state elections and an interest rate hike by the US Federal Reserve around the corner, Radhakishan Damani-promoted Avenue Supermarts Ltd, parent of D-Mart is set to launch its initial public offering (IPO). Priced in the Rs 295-299 band, the issue opens for bidding today and hopes to collect Rs 1870 crore at the upper end of the price end. Purely in terms of size, the D-Mart IPO does not match up to some of the big offerings in the recent past. But given its credible business model and strong operating ratios, not to mention Radhakishan Damani's stature as an investor and entrepreneur, there is a lot of excitement about the IPO.