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Future Supply Chain raises Rs 195 cr from anchor investors

Press Trust of India  |  New Delhi 

Future Group's logistics arm Future Supply Chain Solutions today said it has garnered Rs 195 crore ahead of its initial share offer that opens tomorrow.

The company's IPO committee has finalised allocation of over 29.35 lakh equity to as many as 16 anchor investors at Rs 664 per scrip, also the upper end of the price band, Future Supply Chain informed the stock exchanges.

At this price, the total amount works out to be Rs 194.90 crore, it added.

Among the anchor investors are Trustee Company, Capital Trustee Company, Mutual Fund and Mutual Fund.

Future Supply's IPO will be open for public subscription during December 6-8, at a price band of Rs 660-664 per share.

The issue is a mix of fresh issuance of by promoters Future Enterprises, which will lead to a dilution of 4.43 per cent of their stake, as well as an offer-for-sale by private equity investor Griffin Partners aggregating to 20 per cent of equity.

Together, the issuer will sell 24.43 per cent or 9,784,570 for up to Rs 650 crore.

Edelweiss Financial Services, CLSA India, Nomura Financial Advisory and Securities (India) Pvt Ltd, 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.)

First Published: Tue, December 05 2017. 22:25 IST