Stocks

Future Ventures India tumbles on debut

PTI Mumbai | Updated on May 10, 2011 Published on May 10, 2011

Future Ventures India Ltd, a part of the Future Group, made a weak opening on the bourses today and fell by 10 per cent on the NSE vis-a-vis the issue price of Rs 10 a share.

The stock opened at Rs 9 apiece, down 10 per cent from the issue price in morning trade on National Stock Exchange (NSE). Later, the scrip was trading lower by 13.50 per cent at Rs 8.65 apiece.

In a similar fashion, the stock debuted at Rs 9.50, down 5 per cent from the issue price on the Bombay Stock Exchange.

The company had entered the capital market with a price band of Rs 10-11 a share through a Rs 750 crore public issue.

It plans to utilise the IPO’s proceeds to fuel acquisition plans in the FMCG, food and fashion segments.

Published on May 10, 2011
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