Future Capital Holding (FCHL), the financial services arm of the Future Group, is the first listed stock in the year 2008. The stock surged to a high of Rs 1081 before closing the day at Rs 909.80, premium of 18.93% over its offer price of Rs 765. It has been remained in the range of Rs 825-900 for the whole day. It opened at Rs 1081 on the NSE and touched a low of Rs 825. It traded with volumes of 1,25,42,842 shares and turnover was at Rs 1104 crore.
On the BSE, the stock started the day at Rs 1044 and touched a high/low of Rs 1100 and Rs 826.10, respectively. It ended at Rs 908.20, with volumes of 88,82,244 shares.
Samir Sain, CEO of Future Capital Holdings, sees a scale up in business over the next two years. The revenues from consumer finance and distribution business is likely to come in three years. They plan to set up 500-700 outlets in 3-4 years.
The company had come out with its initial public offering (IPO) of 6,422,800 equity shares of Rs 10 each at a price band of Rs 700-765 per share. The issue was subscribed to approximately around 133 times.
source: moneycontrol.com
