Future Supply Chain Solutions' IPO kicks off
December 6, 2017: The Rs 650-crore initial public offer of Future Supply Chain Solutions has been opened for subscription on December 6.
The logistics arm of Kishore Biyani-led Future Group plans to issue up to 98 lakh equity shares at a price band of Rs 660-664 apiece. This comes a day after the Future Group's logistics arm raised Rs 195 crore from 16 anchor investors.
Investors can bid for a minimum lot of 22 shares and in same multiples thereafter. The third party logistics (3PL) company will close the issue on December 8. Equity shares are proposed to be listed on the BSE and the NSE.
The offer from the company is a mix of fresh issuance of shares by promoters Future Enterprises, which will lead to a dilution of 4.43 percent of their stake, as well as an offer-for-sale by private equity investor Griffin Partners aggregating to 20 percent of equity.