Future Capital Holdings (FCH) IPO ended with 133.44 times subscription. The issue received bid for 85.70 crore shares as against 64.22 lakh shares on offer. The qualified institutional buyers (QIBs) portion was subscribed 180.72 times, the non institutional investors portion 84.38 times and the retail investors portion 55.21 times.
The price band for the IPO was fixed between Rs 700 - 765 per share.
FCH is the financial services arm of the Future Group. It is currently in three primary businesses: investment advisory services, retail financial services, and research.
The proceeds of the issue would be deployed against its consumer credit business Future Money, which was launched in June 2007.
Pantaloon Retail (India) currently holds a 74% stake in the company, while the hedge fund Och Ziff Capital holds 10%. Co-promoters Sameer Sain and other senior employees hold the remaining stake.
Post issue, the promoters holding will come down to 74.5%, from 83% currently. Pantaloon Retails 61% holding in Future Capital will come down to 55%.|