Future Capital Holdings Ltd IPO Listed At Rs1,044 On BSE With A Premium Of 36.47%

Future Capital Holdings Ltd (FCHL) the financial arm of Future group got listed on Friday with a premium of 36.47% at Rs1044 at the BSE against the issue price of Rs765. After touching the high of 1100, the scrips fell heavily to touch a low of Rs845 on the back of heavy profit booking across the counters. While in NSE, the scrip opened at Rs1081 and touched a low of Rs825.

The issue opened on January 11 2008 and closed on January 16 2008. The company has fixed the issue price of Rs765 per share for the IPO of 6,422,800 equity shares for Rs10 each. The issue was subscribed around 133 times. The qualified institutional bidders` portion was subscribed to approximately around 180 times; the non institutional investors` portion was subscribed to approximately around 84 times; and the retail portion was subscribed to approximately around 55 times.

Future Capital To List Amid Choppy Markets

Kishore Biyani's Future Capital, the first IPO of 2008, is all set to list on Feb 1, amidst choppy markets. Management, however, is focusing more on executing its new business plans than worry about the fate at the markets. The company has raised a $350 million logistics fund in partnership with the US based logistics company Aeroterm. The logistics fund will primarily focus on building warehouses and operate it on a rental model. The idea is to cater to the growing supply chain demand in India. The fund will also look at investing in transportation business. Logistics as an asset class has huge developmental need. Warehouse aren't pretty but its a pretty business to be in. As retail being at the core of the company there will be a retail fund sooner or later. Future capital has already committed Kshijij fund entirely and expects to deploy horizon fund in next 60 days. Their hospitality fund is also active given the first movers advantage in the real estate fund category.