The QIB portion was subscribed 180 times while the Non-Institutional portion was subscribed 84 times and the retail portion was subscribed 55 times.

The Initial Public Offering (IPO) of Future Capital Holdings Ltd., the financial services arm of the Future Group, was subscribed by a whopping 133 times. The company received bids for 857mn shares as against the issue size of 6.42mn shares.

The QIB portion was subscribed 180 times while the Non-Institutional portion was subscribed 84 times and the retail portion was subscribed 55 times.

The IPO would constitute 10.16% of the post-issue paid-up capital of the company.

Future Capital was incorporated in 2005 and promoted by Pantaloon Retail India, the flagship company of the Future Group, its founder Chairman Kishore Biyani, and Sameer Sain (former MD of Goldman Sachs in India). One of the investors in the company is Och-Ziff, a prominent international hedge fund.

The company’s three primary lines of business are investment advisory services, retail financial services and research. In June 2007, Future Capital launched its retail financial services offering – Future Money.

Future Capital has the exclusive right to provide financial products and services at present and future malls, stores and retail outlets which are owned, controlled or managed by Pantaloon Retail and its subsidiaries.

Presently, it has 95 Future Money outlets located in 26 cities across India, most of which are located within the retail stores of Pantaloon Retail and its subsidiaries. Currently, the two main retail financial services products of Future Capital are consumption loans and personal loans.

Future Capital will also commence in the near future the distribution of financial products, including credit cards. It has entered into an agreement with ICICI Bank for marketing and distribution of the Future Card, a credit card offering loyalty points.

Source : India InfoLine

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