Future Supply Chain shares rise 1.5% in trading debut

Shares of Future Supply Chain Solutions, the logistics arm of the Future Group, listed with a premium of 1.50 per cent against its issue price of Rs 664.

The stock debuted at Rs 674, reflecting a gain of 1.50 per cent from the issue price on BSE. It later rose by 4.66 per cent to Rs 695.

At NSE, shares of the company listed at Rs 664.

In terms of equity volume, 5.19 lakh shares of the company were traded on BSE and over 30 lakh shares changed hands at NSE during the morning trade.

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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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