Future Ventures India plunges on Listing Day - Indian IPO Blog

Indian IPO Blog

Insights into investing world in India

Tuesday, May 10, 2011

Future Ventures India plunges on Listing Day

Future Ventures India Limited, which listed on the exchanges today, had a terrible listing today, a story which is now increasingly becoming familiar with most of these small tick IPOs that hit the streets. The Price Band for Future Ventures India Limited IPO was fixed at Rs.10/- to Rs.11/- per equity share and the Issue Price was fixed at the lower end of the price band at par with the Face Value of shares

Future Ventures India Limited opened at a discount in the first place, and even went on to take a dip upto Rs.7.95 as the Intra-day Low on the BSE, before closing at Rs.8.30 on the BSE and Rs.8.25 on the NSE. The share failed to get into premium over the Issue Price at any point during the trade and only managed to touch Rs.9.50 as the Intra-day High on the BSE and Rs.9.65 on the NSE. The Total Traded Value was Rs.64.91 crores on the BSE with an aggregate of 7,60,01,845 Equity Shares being traded on the listing day

Future Ventures India Limited plans to use a part of the proceeds from the IPO for acquiring new businesses and another part to grow the existing businesses. Although below par listing was anticipated by many, the relatively poor response to the IPO coupled with a terrible listing day seems to have left a bad taste in the mouth of most investors

No comments:

Post a Comment

KPI Global (SME IPO) Details

KPI Global (SME IPO) Details Issue Open Jan 8, 2019 - Jan 11, 2019 Issue Type Fixed Price Issue IPO Issue Size 4,992,000 Eq Shar...