Future Supply Chain Lists With 1.5% Gains At Rs. 674

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The logistics company of Future Group listed with 1.5% gains at Rs. 674 against the issue price of Rs. 664 on the BSE. Future Supply Chain or FSC's Rs. 650 crore public offering received good response with bids for 5.18 crore equity shares as against the offer for 68.49 lakh shares. The issue price for the offering was fixed at Rs. 664 for a share.

 Future Supply Chain Lists With 1.5% Gains At Rs. 674

At a price band of Rs. 660-664 per scrip, the issue was subscribed 7.56 times. The reserved quota for qualified institutional buyers (QIBs) was oversubscribed 12.36 times, non-institutional investors 11.15 times and retail investors 3.28 times.

The IPO included an offer for sale of 97,84,570 shares that is 24.43% of paid-up equity capital by private equity investor Griffin and Future Enterprises.

The company raised Rs. 195 crore from anchor investors. CLSA India, Edelweiss Financial Services, IDFC Bank, IIFL Holdings, Nomura Financial Advisory and Securities (India) Pvt Ltd, and Yes Securities (India) Ltd were the lead managers to the offer.

Incorporated in the year 2006, Future Supply Chain Solutions is amongst the leading players in the organized 3PL service segment in the country. The company provides IT-backed and automated warehousing, distribution as well as other logistics services.

At 10:32 am, the scrip was trading higher by 2.46% at Rs. 680.35 on the BSE.

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