Together the issuer will sell 24.43 per cent or 9,784,570 shares with a face value of Rs 10 each, for up to Rs 650 crore.
PTI had erroneously reported yesterday that company had fixed a price-band of Rs 655-660 while the correct price band is Rs 660-664. The issue closes on December 8.
Most of the proceeds from the issue will go to Griffin while the rest to will go to the promoter group, Mayur Toshniwal, manager director of Future Supply Chain said.
Griffin Partners held 40 per cent in the company and it will offload 20 per cent of this stake through the IPO, post which the PE will continue to hold 15.1 per cent, Toshniwal added.
In the run-up to the IPO, SSG Capital--the parent of Griffin--had on November 20 sold 19.63 lakh shares aggregating to 4.9 per cent stake to two Edelweiss Group-managed entities--Edelweiss Crossover Opportunities Fund and EW Clover Scheme-at Rs 636.60 a share, according to an earlier exchange filing by the company.
Rakesh Biyani, joint MD at Future Group told reporters yesterday that the company runs contract logistics operations through 42 distribution centres, covering around 3.84 million sqft warehouse space and also operates 2 distribution centres for customers, covering 0.37 million sqft warehouse space.
Future Supply Chain had Rs 45.7 crore profit in FY17, up from Rs 29.4 crore in FY16, on a revenue of Rs 561.2 crore which rose 9.6 per cent over the previous year.
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