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Mumbai, Jan. 16 The initial public offering of Kishore Biyani-led Future Capital Holdings has been receiving overwhelming response since day one. The issue has been subscribed 132.10 times across the price band, till 6 pm, according to the NSE Web site. The issue received bids for 84,14,51,848 equity shares as against 64.22-lakh shares on offer.

As per the last updated data available on the NSE, the Qualified Institutional Buyers portion was subscribed 35.05 times, the Non-Institutional Investors portion was subscribed 14.15 times and the Retail Investors portion was subscribed by 15.29 times.

The public offer expects to raise up to Rs 490 crore. The proceeds would be deployed in the company’s consumer credit business — Future Money — which was launched in June 2007.

The price band for the IPO is between Rs 700-Rs 765. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

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