ALSO READFuture Supply Chain IPO subscribed 72% on Day 2 Future Supply Chain fixes Rs 660-664 price-band for IPO Future Supply Chain IPO opens on Dec 6, price band at Rs 655-660 per share Private equity exit the reason behind Future Supply Chain IPO: Biyani Future Supply Chain Solutions IPO subscribed 32% on Day One
The initial share sale of Future Supply Chain Solutions, the logistics arm of the Future Group, was subscribed 7.38 times on the last day of the bidding today, stock exchange data showed. The public issue, which targets to garner Rs 650 crore, received bids for over 5.05 crore shares against the total issue size of more than 68.49 lakh scrips, a subscription of 7.38 times, data available with the National Stock Exchange (NSE) till 1700 hours showed. Future Supply's initial public offer (IPO) opened for public subscription on December 6 at a price band of Rs 660- 664 per share. On Tuesday, the company had raised Rs 195 crore from anchor investors. The issue comprises sale of 97,84,570 equity shares, amounting to 24.43 per cent stake, by Future Enterprises and private equity investor Griffin Partners. Edelweiss Financial Services, CLSA India, Nomura Financial Advisory and Securities (India) Pvt Ltd, IDFC Bank, IIFL Holdings and Yes Securities (India) Ltd are the book running lead managers to the offer.