Future Ventures IPO : QIBs response very poor, just 0.26 times on QIBs closing

by khalid on 27/04/2011 · 0 comments

The IPO of Future Ventures Limited has received a very little poor response from the Qualified Institutional Buyers (QIBs) as today was the last day of subscription for them. They just subscribed 0.26 times. The IPO closes tomorrow for retail investors. Future Ventures IPO is open on 25th Apr 2011 and will get closed on 28th Apr 2011 for subscription. The price band for the issue is Rs 10 at lower level and Rs 11 at upper level. The company is a part of the Future Group, promoted by Kishore Biyani and it focuses on consumption-led businesses.

The category-wise subscription status of IPO on closing of 3rd day is given below:-

Qualified Institutional Buyers (QIBs) : 0.26 times
Non Institutional Investors : 5.13 times
Retail Individual Investors : 0.16 times
Overall : 0.95 times

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Book running lead managers to the issue are JM Financial, Enam Securities and Kotak Mahindra Capital.

Registrar of the Issue : Link Intime (India).

Company filed DRHP with SEBI in August 2010.

Stay tuned to BelltheBull Blog for more on Future Ventures IPO !

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