New Delhi: 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 74% on the second day.
As of 5pm, the portion of shares reserved for institutional investors in the Future Supply Chain IPO was subscribed 63%, while those set aside for retail and non-institutional investors were subscribed 83% and 66%, 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 where the parent Future Enterprises Ltd and special situations fund SSG Capital are collectively selling 9.78 million shares.
After the Future Supply IPO, there will be a total stake dilution of 24.43%. Future Enterprises is selling stake worth Rs130 crore, while SSG Capital, through its entity Griffin Partners Ltd, is offloading shares worth Rs520 crore.