Mumbai, Jan 3 (UNI) Future Capital Holdings Limited (FCHL) has fixed the Price Band between Rs 700 and Rs 765 per equity share for its Initial Public Offering (IPO) of 6,422,800 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process.
The Company has filed its Red Herring Prospectus (RHP) with the Registrar of Companies, Mumbai, and the issue is expected to hit the capital market in mid-January 2008. The Issue would constitute 10.16 per cent of the post-issue paid-up capital of the Company, a release said.
FCHL was incorporated in 2005 and promoted by Pantaloon Retail (India) Ltd. (PRIL), the flagship company of the Future Group. One of the investors in the Company is Och-Ziff, a prominent international fund.
Currently, the two main retail financial services products are consumption loans and personal loans. FCHL will also commence in the near future the distribution of financial products, including credit cards. It has entered into an agreement with ICICI Bank for marketing and distribution of the Future Card, a credit card offering loyalty points.
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