Promoters to take home up to Rs 650 crore in Future Supply Chain IPO: Limited upside for investors
Promoters to take home up to Rs 650 crore in Future Supply Chain IPO: Limited upside for investors The Rs 650 crore IPO of Future Supply Chain Solutions which opened today is a complete offer for sale, wherein the proceeds from the issue will not go the company. Brokerages say that there is limited upside for the investors. The year has seen a lot of high profile IPOs which were complete offer for sale. In 2017, at least nine high profile IPOs had seen promoters completely sell out their positions via offer for sale. The IPO of Future Supply Chain Solutions to raise upto Rs 650 crore which opens for subscription today, is also a complete offer for sale. There are a total of 97,84,570 equity shares on offer, with an offer for sale of up to 78,27,656 equity shares by Griffin Partners and up to 19,56,914 shares by the promoter, Future Enterprises. Since, it’s a complete offer for sale, Future Supply Chain Solutions will not receive any proceeds from the issue. Notably, top ...
