Future Capital to raise Rs 490 cr through IPO
The issue will open for subscription on January 11 in a price band of Rs 700-765 and will close on January 16.
Future Capital Holdings Ltd (FCHL) will get listed on the first week of February, Future Group CEO Kishore Biyani told reporters here today.
The proceeds of the issue would be deployed against its consumer credit business called Future Money launched in June 2007, he said.
On the issue price, Future Capital Holding CEO and Managing Director Sameer Sain refuted reports that it was being quoted in a higher price band.
"Pricing is not at the higher end and after the IPO, many retailers would follow us," he said.
The issue would constitute 10.16 per cent of the post-issue paid-up capital of the company.
At least 60 per cent of the issue shall be allocated to Qualified Institutional Bidders. Five per cent of the QIB portion shall be available for allocation on a proportionate basis to mutual funds only.
Not less than 10 per cent of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 30 per cent of the issue shall be available for allocation on a proportionate basis to retail individual bidders.
The equity shares are proposed to be listed on the BSE and the NSE