Future Ventures India lists below issue price

After lukewarm response to the IPO, Future Ventures India's shares disappointed the street on Day 1 by listing below the issue price. A share opened at Rs 9, down 10% as compared to issue price of Rs 10 on the National Stock Exchange.

In actual, listing was on the expected lines as experts as well as grey market were expecting the listing below IPO price. At 9:35 hours IST, a share was trading at Rs 9.05, after witnessing a high of Rs 9.65 and low of Rs 8.15. Traded volume was more than 5 crore equity shares as against issue size of 75 crore shares Future Ventures raised Rs 750 crore through the issue. It intends to use a large part of the funds for acquiring new businesses and a small part of the proceeds will be used to grow the existing businesses.