Future Ventures IPO subscribed fully on final day

The initial public offer of Future Ventures India Ltd, a part of Kishore Biyani-promoted Future Group, was subscribed 1.51 times on the last day of the issue today.

The company's IPO received bids for 113.3 crore equity shares against 75 crore shares on offer, as per the data available on the National Stock Exchange.

The company had entered the capital market with a price band of Rs 10-11 per share for the public issue of Rs 750 crore.

The issue which opened for subscription on April 25 closed yesterday for QIB bidders and today was the last day for retail and non-institutional bidders.

The company plans to utilise the IPO's proceeds to fuel acquisition plans in the FMCG, food and fashion segments.

Enam Securities Private Limited, JM Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited are the book running lead manager to the issue.