The Rs 650-crore initial public offering (IPO) of Future Supply Chain Solutions was subscribed 7.56 times during December 6-8, 2017. The reserved portion of qualified institutional buyers was oversubscribed 12.36 times, non-institutional investors 11.15 times and retail 3.28 times, the exchange data shows.
Future Supply Chain Solutions, promoted by Future Enterprises, is one of the India’s largest organized third party logistics services providing services in three segments include contract logistics, express logistics and temperature controlled logistics.
At the higher price band of Rs 664, Future Supply Chain Solutions share is available at P/E multiple of 58.2(x) and 39.9(x) based on FY17 and FY18E (annualized) EPS, the issue is aggressively priced leaving limited room for further upside, Choice Broking said in an IPO note.