Future Capital Holdings decided to come out with an Initial Public Offering in order to raise substantial amount of capital that could be used in future expansion of the company. This Initial Public Offering was scheduled to be open on 11th January,2008 and close on 16th January,2008.
Future Capital Holdings IPO refers to the Initial Public Offering, which the company filed with Securities and Exchange Board of India(SEBI) in January, 2008. The company decided to come out with an Initial Public Offering in order to raise capital which could be used for the future growth and expansion of the company.
Company Profile
Future Capital Holdings actually represents the Financial Division of Future Group. Pantaloon Retail India Limited holds 74% shares of Future Capital Holdings, whereas, a Hedge Fund named Och Ziff Capital holds 10% shares.
Details of the Initial Public Offering
This IPO deal of Future Capital Holdings was scheduled to be open on 11th January,2008 and close on 16th January,2008. Future Capital Holdings decided to sell its' 64,22,800 equity shares through this Initial Public Offering. The company determined the Price Band of shares as 700 rupees to 765 rupees per share.
It was expected that at the price band of 700 rupees to 765 rupees, offered by Future Capital Holdings, the market capital of the company would reach a figure somewhere between 4430 crores and 4845 crores of rupees. This estimated market capital would be quite significant for the company as the other companies like India Bulls and India Infoline were known for having market capital of 22,780 crores of rupees and 10,108 crores of rupees respectively.
Future Capital Holdings appointed JM Financial Consultants Private Limited, Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited and Enam Securities Private Limited as the BRLMs or Book Running Lead Managers for their IPO deal.
The equity shares of Future Capital Holdings were proposed to be listed on NSE( National Stock Exchange) and BSE(Bombay Stock Exchange).