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The initial public offer of Future Supply Chain Solutions, the logistics arm of the Future Group, was subscribed 32 per cent on the first day of the bidding today.
The public issue, which targets to garner Rs 650 crore, received bids for 21.66 lakh shares against the issue size of over 68.49 lakh scrips, a subscription of 32 per cent, latest update with the National Stock Exchange (NSE) showed.
Future Supply's IPO will be open for public subscription during December 6-8, at a price band of Rs 660-664 per share.
Yesterday, 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)