Shares of Future Supply Chain Solutions were trading at Rs 680.65 at 10:09 IST on BSE, a premium of 2.51% over the initial public offer price of Rs 664.
The stock debuted at Rs 674, a premium of 1.51% to the initial public offer (IPO) price. So far the stock hit a high of Rs 695 and low of Rs 660.05. On BSE, so far 3.54 lakh shares were traded on the counter.
The IPO of Future Supply Chain Solutions ended on 8 December 2017. The IPO received total bids for 5.17 crore shares and it was subscribed 7.56 times. The price band of the IPO was fixed at Rs 660 to Rs 664 per share. The IPO opened for subscription on 6 December 2017.
Ahead of the opening of the IPO, the IPO committee of the board of directors of the company at its meeting held on 5 December 2017 finalised allocation of 29.35 lakh equity shares to 16 anchor investors at Rs 664 per share.
The IPO comprised offer for sale of 97.85 lakh shares. The selling shareholder comprised of the promoter Future Enterprise (around 19.57 lakh shares) and Griffin Partners (around 78.28 lakh shares).
The company reported net profit of Rs 33.33 crore on revenue from operations of Rs 357.42 crore in the half year ended 30 September 2017.
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Future Supply Chain Solutions (FSC) is one of the largest third-party logistics service providers in India. FSC services include automated and IT-enabled warehousing, distribution and other logistics solutions to a wide range of customers which includes retail, fashion and apparel, automotive and engineering, food and beverage, fast-moving consumer goods, e-commerce, healthcare, electronics and technology, home and furniture and ATMs.
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