Future Group fix price band for IPO

03 Jan '08

2 min read

Future Capital Holdings Limited (“FCHL” or the “Company”), the financial services arm of the Future Group, has fixed the Price Band between Rs 700 and Rs 765 per equity share for its Initial Public Offering (“IPO”) of 6,422,800 equity shares of Rs 10 each for cash at a price (“Equity Shares”) to be decided through a 100% book-building process.

The Company has filed its Red Herring Prospectus (“RHP”) with the Registrar of Companies, Mumbai, and is expected to hit the capital market in mid-January 2008. The Issue would constitute 10.16% of the post-issue paid-up capital of the Company.

FCHL was incorporated in 2005 and promoted by Pantaloon Retail (India) Ltd (“PRIL”, the flagship company of the Future Group), its Managing Director Mr. Kishore Biyani, and Mr. Sameer Sain (a former Managing Director at Goldman Sachs International). One of the investors in the Company is Och-Ziff, a prominent international fund.

FCHL's three primary lines of business are investment advisory services, retail financial services and research. In June 2007, FCHL launched its retail financial services offering — Future Money — with the objective of becoming one of the leading retailers of financial products and services in India.

Pursuant to an agreement with PRIL, FCHL has the exclusive right to provide financial products and services at present and future malls, stores and retail outlets in India which are owned, controlled or managed by PRIL and its subsidiaries.

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