Shalby to launch IPO next week, fixes price band of Rs 245-248 per share

In 2017, country has seen a record year for IPOs with proceeds from initial share sales topping $11 bn

Indian logistics provider Future Supply Chain Solution's initial public offering (IPO) of shares to raise up to Rs 6.5 billion ($100.9 million) will open next week, adding to what has been a record year for initial share sales in the country.

Griffin Partners and India's Future Enterprises Ltd, shareholders of Future Supply Chain Solutions, will sell up to 9.8 million shares in a price range of 660 rupees to 664 rupees each in the IPO that will be open for subscription from December 6 to December 8, according to a public notice.

At the upper end of the price band, the IPO will raise about Rs 6.50 billion.

 

Meanwhile, hospital operator Shalby Ltd is also seeking to raise up to Rs 4.8 billion by selling new shares in a price range of Rs 245-248 in the IPO that will be open for subscription between December 5 and December 7, according to a public notice.

One of its shareholders will sell up to one million shares in the IPO, taking the total fund-raising from the IPO to about Rs 5.1 billion.

India has seen a record year for IPOs with proceeds from initial share sales topping $11 billion so far in 2017.

Edelweiss, Citic CLSA and Nomura are the global coordinators and bookrunners for the Future Supply Chain IPO, while IDFC Bank, IIFL Holdings and Yes Securities are the other bookrunners.

Edelweiss, IDFC Bank and IIFL Holdings are managing the Shalby IPO.

($1 = Rs 64.4300)