Shares of Future Supply Chain rise on trading debut after $101 million IPO
MUMBAI (Reuters) – Shares of Indian logistics provider Future Supply Chain Solution Ltd rose as much 4.8 percent on their market debut after the company’s 6.5 billion rupee ($101 million) initial public offering.
By 0436 GMT, shares were trading at 680.35 rupees, 2.4 percent higher than their IPO issue price of 664 rupees. The main market index was up 0.4 percent.
The issue had seen strong demand with investors bidding for nearly 7.5 times the shares on offer.
($1 = 64.2750 Indian rupees)
Reporting by Swati Bhat and Devidutta Tripathy; Editing by Subhranshu Sahu