Kishore Biyani-promoted Future Capital Holdings' initial share sale, which closed its IPO on Wednesday, was subscribed nearly 131 times, as investors shrugged off shaky secondary market sentiment after the benchmark Sensex tumbled nearly 860 points in the last two days.
The IPO by FCH, which will collect Rs 492 crore (Rs 4.92 billion) in the upper-end of the price band of Rs 700-765 apiece, got bids for Rs 56,610 crore (Rs 566.10 billion) worth shares.
The Qualified Institutional Bidders (QIB) portion was subscribed 107 times. On Tuesday, the Foreign Institutional Investors submitted bids for Rs 9,180 crore (Rs 91.80 billion) worth shares. The final day's figures were not available.
The HNI (high net worth investor) segment was subscribed 33 times and the retail portion was subscribed 27 times at the time of going to the press. Bankers said the IPO subscription will go up further when applications from smaller towns get processed.
Dealers said the investor appetite for FCH was significant, given that the IPO coincided with Reliance Power's mega share offering.
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