The IPO of Future Supply Chain Solutions Ltd opens on December 6th and closes on December 8th. The company is offering shares in the price band of Rs.660-664.
About Future Supply Chain Solutions
FSCSL is one of the largest third-party logistics service providers in India. Promoted by Future Enterprises Limited, which is promoted by Kishore Biyani the company is one of the fastest growing 3rd party logistics player in ndia.
The company offers 3 major solutions
Contract Logistics: warehousing, distribution and other value-added services.
Express Logistics: point-to-point, less-than truck-load, time-definite transportation services.
Temperature-Controlled Logistics: cold-chain warehousing, transportation solutions and distribution of perishable products.
Business Details
Revenue breakup
| Sector | Percentage of revenue from operations (%) |
|---|---|
| Fashion & Apparel | 23.6 |
| Automotive & Engineering | 22.3 |
| Food & Beverage | 15.3 |
| FMCG | 7.3 |
| E-Commerce | 6.7 |
| Healthcare | 6.1 |
| Electronics & Technology | 6.0 |
| Home & Furniture | 5.6 |
| ATMs | 4.3 |
| Others | 2.7 |
| Total | 100 |
Financials
| Income Statement | ||||
|---|---|---|---|---|
| Year (cr) | FY2015 | FY2016 | FY2017 | 1HFY18 |
| Total operating income | 408 | 520 | 561 | 357 |
| % chg | - | 27.4 | 7.9 | - |
| Total Expenditure | 344 | 450 | 487 | 301 |
| Personnel | 44 | 54 | 57 | 33 |
| Others Expenses | 300 | 396 | 430 | 268 |
| EBITDA | 64 | 70 | 74 | 56 |
| % chg | - | 9.9 | 6.2 | - |
| (% of Net Sales) | 15.6 | 13.5 | 13.2 | 15.7 |
| Depreciation& Amortization | 20 | 21 | 19 | 10 |
| EBIT | 44 | 49 | 55 | 46 |
| % chg | - | 11.6 | 11.9 | - |
| (% of Net Sales) | 10.8 | 9.5 | 9.8 | 12.9 |
| Interest & other Charges | 10 | 13 | 13 | 4 |
| Other Income | 3 | 9 | 16 | 8 |
| (% of PBT) | 7.5 | 19.3 | 27.2 | 15.8 |
| Share in profit of Associates | - | - | - | - |
| Recurring PBT | 37 | 45 | 58 | 49 |
| % chg | - | 22.0 | 30.5 | - |
| Tax | 12 | 15 | 12 | 16 |
| (% of PBT) | 32.6 | 34.0 | 21.4 | 32.6 |
| PAT (reported) | 25 | 29 | 46 | 33 |
| Extraordinary Items | (0) | - | - | - |
| ADJ. PAT | 25 | 29 | 46 | 33 |
| % chg | - | 18.6 | 55.5 | - |
| (% of Net Sales) | 6.1 | 5.7 | 8.2 | 9.3 |
| Basic EPS (Rs) | 6.2 | 7.3 | 11.4 | 8.3 |
| Fully Diluted EPS (Rs) | 6.2 | 7.3 | 11.4 | 8.3 |
| % chg | - | 18.6 | 55.5 | - |
| Source: RHP |
Shareholding Pattern
| No of shares Pre-IPO | % | No of shares Post IPO | % | |
|---|---|---|---|---|
| Promoters | 22,972,831 | 57.4% | 21,015,917 | 52.5% |
| Others | 17,083,407 | 42.6% | 19,040,321 | 47.5% |
| 40,056,238 | 100.0% | 40,056,238 | 100.0% |
Issue Details
IPO size: Rs.650 crores at the upper price band
Face value: Rs 10
Retail portion: 35%
Lot size: 22 shares and in multiples thereafter
Maximum subscription amount: Rs.2,00,000
Listing on: both NSE and BSE
Tentative IPO schedule
Basis of allotment December 13
Unblocking of funds December 14
Credit to demat accounts December 14
Listing on stock exchanges December 18
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