Future Capital Holdings (FCH), a part of the Kishore Biyani promoted Future group, which went public with an IPO that closed on Wednesday, the 16th January, 2008, has received excellent response from all categories of investors. The IPO, despite secondary market sensitive index of BSE (sensex) tumbling by 860 points in the past two days, was over-subscribed by 131 times. This reflects increased appetite of investors, particularly for companies that are either involved in retailing or alternatively, like FCH, are engaged with activities associated with modern retail.
FCH has decided to fix the issue price at the upper level of price band at Rs. 765 per share. This would mean collection of Rs. 492 crore by the company out of total bids exceeding 56,000 crores.
The proceeds of the offering will be utilised for augmenting the capital base required for funding retail financing services of the group.
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