Future Supply Chain shares gain over 3% in trading debut

Kishore Biyani. Photo: Kamlesh Pednekar
Shares of Future Supply Chain Solutions, the logistics arm of the Future Group, rose by over 3 per cent against its issue price of Rs 664 in its trading debut on Monday.

The stock debuted at Rs 674, reflecting a gain of 1.50 per cent from the issue price on BSE. During the day, it soared 5.22 per cent to Rs 698.70. It finally ended at Rs 685.80, up 3.28 per cent.

On NSE, shares of the company jumped 3.36 per cent to close at Rs 686.35.

The company's market valuation stood at Rs 2,747.06 crore.

In terms of equity volume, 9.30 lakh shares of the company were traded on BSE and over 55 lakh shares changed hands on NSE during the day.

The company's Rs 650-crore public issue was open for subscription from December 6-8.

The price band for the initial public offer (IPO), subscribed more than 7.5 times, was fixed at Rs 660-664.

The issue comprised sale of 97,84,570 equity shares, amounting to 24.43 per cent stake, by Future Enterprises and private equity investor Griffin Partners.

Edelweiss Financial Services, CLSA India, Nomura Financial Advisory and Securities (India) Pvt Ltd, IDFC Bank, IIFL Holdings and Yes Securities (India) Ltd were the global coordinators and book running lead managers to the offer.

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