Future Capital Holdings Limited IPO oversubscribed 132 times

MUMBAI: Continuing to hold investors’ interest, the IPO of Future Capital Holdings (FCH) was subscribed over 132 times on the last day of its issue, while the local bourses suffered losses. According to latest data available on the bourses, the IPO of the Kishore Biyani-led Future group’s financial services arm received bids for 84.84 crore equity shares against the 64.22 lakh shares on offer.

FCH is expecting to raise up to Rs 490 crore through the issue, the price band for which has been fixed between Rs 700-765. The issue, which opened on January 11 closed with the working hours on Wednes-day. The BSE benchmark Sensex, on Wednesday fell by 383 points as investors liquidated their holdings in the secondary markets to invest in mega issue of Reliance Power, which opened on Tuesday. Post IPO, the equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

The issue proceeds would be deployed against its consumer credit business Future Money, that was launched in June 2007. . Kotak Mahindra Capital, Enam Securities, JM Financial Consultants and UBS Se-curities India are the book- running lead manager to the issue.

Source : economictimes.indiatimes.com