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Thursday, April 28, 2011

Future Ventures India IPO has failed to lure investors, especially the QIB and Retail Category, with the IPO getting subscribed 1.52 times on an overall basis, mainly on support from Non-Institutional Investors

The IPO has received a very fragile subscription in the QIB category, which remained undersubscribed at 0.26 times. The Retail Investors have also stayed aloof with the category not even getting subscribed fully with a subscription of merely 0.61 times. The decisive subscription came only from the HNI Category which was oversubscribed 7.81 times, receiving bids for 87,88,28,400 Equity Shares as against 11,25,00,000 Equity Shares reserved for the category

According to the company's website, Future Ventures, seeks to promote and participate in innovative and emerging business ventures in India. The company intends to play a role in powering entrepreneurship, by promoting or participating in diverse business activities, primarily in “consumption-led” sectors in the country. Future Ventures IPO was offered in a price band of Rs.10/- to Rs.11/- per equity share

Future Ventures Limited is a part of Future Group, which had earlier come up with an IPO for its Future Capital Holdings Limited. The issue price of that IPO was set at a sky-high Rs.765/- per equity share, the current market price of which is about Rs.155/-. It seems that investors who burnt their fingers very badly in FCH IPO have chosen to avoid an IPO coming from the same tent despite the low tick size on its price band

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