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Future Supply Chain Solutions makes quiet debut

The stock listed at Rs 674, a 1.5% premium against its issue price of Rs 664 per share on the BSE.

SI Reporter  |  Mumbai 

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Future Supply Chain Solutions, the logistics arm of the Kishore Biyani-led Future Group, has made a quiet debut on the bourses by listing at Rs 674, a 1.5% premium against its issue price of Rs 664 per share on the BSE. On the National Stock Exchange (NSE), the stock listed at Rs 664, at par against its issue price. At 10:02 am; the stock was trading at Rs 684, a 3% higher against its issue price.

It hit a high of Rs 695 and a low of Rs 660 on the BSE in intra-day trade so far. A combined 1.37 million shares changed hands on the NSE and BSE. The Rs 650-crore initial public offering (IPO) of was subscribed 7.56 times during December 6-8, 2017. The reserved portion of qualified institutional buyers was oversubscribed 12.36 times, non-institutional investors 11.15 times and retail 3.28 times, the exchange data shows. Future Supply Chain Solutions, promoted by Future Enterprises, is one of the India’s largest organized third party logistics services providing services in three segments include contract logistics, express logistics and temperature controlled logistics. At the higher price band of Rs 664, share is available at P/E multiple of 58.2(x) and 39.9(x) based on FY17 and FY18E (annualized) EPS, the issue is aggressively priced leaving limited room for further upside, Choice Broking said in an note.

First Published: Mon, December 18 2017. 10:04 IST
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