Mumbai based, Kishore Biyani-promoted, Future Ventures is is entering into primary market with an Initial Public Offer (IPO) of 750,000,000 Equity Shares of Rs 10 each. The IPO is opening on 25th Apr 2011 and the shares will be available for subscription up to 28th Apr 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 10 Per Equity Share for low level and Rs 11 Per Equity Share for upper level. The company is likely to raise around Rs 750.00 Crore through the issue at the upper level of price band. The company is a part of the Future Group, promoted by Kishore Biyani and it focuses on consumption-led businesses.
The proceeds of the IPO are proposed to be utilized for general corporate purposes, create build, invest in or acquire, and operate business ventures.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Issue Open : 25th Apr 2011 – 28th Apr 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 750,000,000 Equity Shares of Rs 10 each
Issue Size : Rs 750.00 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 10 – Rs. 11 Per Equity Share
Minimum Bid Quantity : 600 Shares (Rs. 6600 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 18000 Shares (Rs. 198000 with 30 Lots ) @ upper level of price band
Listing At : BSE, NSE
Book running lead managers to the issue are JM Financial, Enam Securities and Kotak Mahindra Capital.
Registrar of the Issue : Link Intime (India).
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