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Mumbai, Jan. 3 Future Capital Holdings Ltd has fixed the price band for its initial public offering at Rs 700-765 per share.

At the upper end of the band, the company would raise Rs 490 crore from the issue. The IPO, which is expected to open in mid-January this year, offers 64.23 lakh equity shares of Rs 10 each.

The issue would constitute 10.16 per cent of the post-issue paid-up capital of the company, said a news release.

FCHL is promoted by Pantaloon Retail (India) Ltd, its three primary lines of business being investment advisory services, retail financial services and research.

Pursuant to an agreement with Pantaloon Retail, FCHL has the exclusive right to provide financial products and services at present, and future malls, stores and retail outlets in India which are owned, controlled or managed by PRIL and its subsidiaries.

The Book Running Lead Managers to the issue are Kotak Mahindra Capital Company Ltd, Enam Securities Pvt Ltd, JM Financial Consultants Pvt Ltd and UBS Securities India Pvt Ltd.

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