Future Ventures, subsidiary of Future Group led by Kishore Biyani, debuted at Rs 9, a 10% discount against its issue price of Rs 10 per share on the National Stock Exchange (NSE). The stock hit a high of Rs 9.65 and low of Rs 7.19 so far, before ending at Rs 8.20 – a discount of 18% over the issue price. Over 174 million shares changed hands on the counter so far. The company has garnered Rs 750 crore through the issue of 750 million equity shares, fixed the issue price at lower end of price band of Rs 10-11 a share due to lukewarm response from qualified institutional bidders (QIB) and retail investors.

We had timely warned our readers not to invest in the IPO and retail investors have been saved the agony of investing in a dud IPO made at an exorbitant rate. However keep an eye and one can buy this stock at lower levels as Kishore Biyani has the vision and he can take the group to higher levels.
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