Future Supply Chain IPO sees 32% subscription on Day 1
Mumbai: The Rs650-crore initial public offering (IPO) of Future Supply Chain Solutions Ltd, the logistics arm of the Kishore Biyani-led Future Group, witnessed an overall subscription of 32% on Wednesday, the first day of the share sale.
According to data from stock exchanges, as of 5pm, the portion of shares reserved for institutional investors in the Future Supply Chain IPO was subscribed 50%, while those set aside for retail and non-institutional investors were subscribed 27% and 18%, respectively. Future Supply Chain has set a price band of Rs660-664 per share for the IPO. The offer will close on 8 December.
The IPO is a pure offer for sale, where the parent Future Enterprises Ltd and special situations fund SSG Capital are collectively selling 9.78 million shares. Post-offer, there will be a total stake dilution of 24.43%.