Future Capital Holdings (FCH), the financial services arm of the Kishore Biyani-led Future group, has filed its DRHP with SEBI on 3rd October 2007.It proposes to come out with an IPO of 64.228 lakh equity shares of Rs 10 each through the 100 per cent book-building method. The book built issue will offer 10.16 per cent equity of the company.
This is the second company from the Future Group, the other listed company being Pantaloon Retail. FCH aims at garnering Rs.300-350 crore from the issue and is looking at getting the stock listed on the BSE and NSE by this year end. Kotak, Enam, J M Financial and UBS are the book running lead managers to the issue.
FCH focuses on investment advisory and asset management, retail financial services and research. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels. The group has launched a consumer credit and financial supermarket format, Future Money and plans to offer insurance products through a joint venture with Italian insurance major, Generali. The company is planning to use the proceeds to fund the expansion of Future Money.
Pantaloon holds 74 per cent stake in the company, while the hedge fund Och Ziff Capital holds 10 per cent. The remaining stake is held by the co-promoter Sameer Sain and other employees.