The initial public offer of Future Supply Chain Solutions, the logistics arm of the Future Group, was subscribed 72 percent at the end of the second day of bidding today.
The public issue, which targets to garner Rs 650 crore, received bids for over 49.62 lakh shares against the issue size of more than 68.49 lakh scrips, a subscription of 72 percent, data available with the National Stock Exchange (NSE) showed.
Future Supply's IPO opened for public subscription yesterday and will continue till tomorrow, at a price band of Rs 660-664 per share.
Over one lakh applications have been received so far.
The category for qualified institutional buyers was subscribed 63 percent, high-networth individuals 66 percent and retail 83 percent.
On Tuesday, the company had raised Rs 195 crore from anchor investors.
The issue comprises sale of 97,84,570 equity shares, amounting to 24.43 percent stake, by Future Enterprises and private equity investor Griffin Partners.
Edelweiss Financial Services, CLSA India, Nomura Financial Advisory and Securities (India) Pvt Ltd, IDFC Bank, IIFL Holdings and Yes Securities (India) Ltd are the book running lead managers to the offer.
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