Future Supply Chain makes good debut

There is a swanky new listing on the bourses today. Future Supply Chain As against the IPO price of Rs.664, the stock got listed on the BSE at Rs.674 and is now trading higher at Rs.680 levels and its intra day high point was at Rs.696. A quiet but a very decisive listing for the Biyani group company.

The issue was subscribed 7.56 times, getting nearly four lakh applications. The lion’s share of the IPO was subscribed by QIBs, which got subscribed 12.36 times, followed by HNIs at 11.15 times and retail investors was at 3.17 times.

In our New Issue Analysis, we had stated, “Future Supply Chain has demonstrated stellar growth in the recent past, which coupled with cheaper valuation vis-à-vis direct peer Mahindra Logistics makes this IPO attractive and hence a subscribe. One can expect both listing gains and double digit percentage returns from the stock, over the medium term.”