REUTERS - Indian logistics provider Future Supply Chain Solution’s initial public offering (IPO) of shares to raise up to 6.5 billion rupees ($100.9 million) will open next week, adding to what has been a record year for initial share sales in the country.
Griffin Partners and India’s Future Enterprises Ltd, shareholders of Future Supply Chain Solutions, will sell up to 9.8 million shares in a price range of 660 rupees to 664 rupees each in the IPO that will be open for subscription from Dec.6 to Dec. 8, according to a public notice.
At the upper end of the price band, the IPO will raise about 6.50 billion rupees.
Meanwhile, hospital operator Shalby Ltd is also seeking to raise up to 4.8 billion rupees by selling new shares in a price range of 245-248 rupees in the IPO that will be open for subscription between Dec. 5 and Dec.7, according to a public notice.
One of its shareholders will sell up to one million shares in the IPO, taking the total fund-raising from the IPO to about 5.1 billion rupees.
India has seen a record year for IPOs with proceeds from initial share sales topping $11 billion so far in 2017.
Edelweiss, Citic CLSA and Nomura are the global coordinators and bookrunners for the Future Supply Chain IPO, while IDFC Bank, IIFL Holdings and Yes Securities are the other bookrunners.
Edelweiss, IDFC Bank and IIFL Holdings are managing the Shalby IPO.
($1 = 64.4300 Indian rupees)
Reporting by Vishal Sridhar in Bengaluru; Editing by Vyas Mohan