Future Enterprises rose 5.48% to Rs 46.20 at 15:20 IST on BSE after the company said its subsidiary filed papers for an initial public offer with the stock market regulator.
The announcement was made after market hours on Thursday, 24 August 2017.Meanwhile, the S&P BSE Sensex was up 162.29 points, or 0.51% to 31,758.35.
On the BSE, 4.42 lakh shares were traded in the counter so far, compared with average daily volumes of 2.32 lakh shares in the past one quarter. The stock had hit a high of Rs 47 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 45.55 so far during the day. The stock hit a 52-week low of Rs 14.20 on 9 November 2016.
The stock had outperformed the market over the past one month till 24 August 2017, rising 12.60% compared with 2.43% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 47.47% as against Sensex's 1.83% rise. The scrip had also outperformed the market in past one year, rising 113.66% as against Sensex's 13.51% rise.
The small-cap company has equity capital of Rs 86.69 crore. Face value per share is Rs 2.
Future Enterprises announced that its subsidiary Future Supply Chain Solutions (FSCSL) has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a public offer of up to 97.84 lakh equity shares, representing 25% of the existing issued and paid-up equity share capital of FSCSL for cash.
Future Enterprises reported net loss of Rs 45.46 crore in Q1 June 2017 as against net profit of Rs 315.48 crore in Q1 June 2016. Net sales rose 13.05% to Rs 1041.38 crore in Q1 June 2017 over Q1 June 2016.
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Future Enterprises (FEL) develops, owns and leases the retail infrastructure for the Future Group. The company also holds the Group's investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics. Future Supply Chains manages the logistics- from warehousing, storage to distribution of raw materials and products.
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