Future Capital to debut at the bourses today

Equity shares of Kishore Biyani-promoted Future Capital Holdings (FCHL), the financial services arm of the Future Group, will be listed for trading on the bourses today (February 1).

The company had fixed the issue price at Rs 765 a share for its initial public offering of 6,422,800 equity shares for Rs 10 each. The issue opened for subscription on Jan. 11, 2008, and closed on Jan. 16, 2008.

The issue was subscribed around 133 times. The qualified institutional bidders` portion was subscribed to approximately around 180 times; the non institutional investors` portion was subscribed to approximately around 84 times; and the retail portion was subscribed to approximately around 55 times.

FCHL was incorporated in 2005 and promoted by Pantaloon Retail (India), its managing director Kishore Biyani, and Sameer Sain. One of the investors in the Company is Och-Ziff, a prominent international fund. Its three primary lines of business are investment advisory services, retail financial services and research.

As part of the investment advisory services, the company provides private equity and real estate investment advisory services to onshore and offshore clients. These investment advisory services include investment analysis, research and recommendations.

It acts as the investment advisor to the Rs 3,500 million (about USD89 million) Kshitij Venture Capital Fund, an onshore SEBI-registered venture capital fund, whose main focus is developing retail malls in India.