Biyani is Out having sold out Future Capital Holdings to the Warburg Pincus Group at Rs 162
Cloverdell Investment Ltd, a private company limited by shares, incorporated under the laws of Mauritius (“Acquirer”) along with Warburg Pincus Private Equity XI, L.P., Warburg Pincus XI Partners, L.P., Warburg Pincus Private Equity XI-B, L.P., WP XI Partners, L.P., each a Delaware limited partnership, and Warburg Pincus Private Equity XI-C, L.P., a Cayman Islands exempted limited partnership, collectively referred to as persons acting in concert (“PAC”) now hold a strong controlling interest of 68.40% or 46794080 Equity Shares of Future Capital Holdings now renamed Capital First
These shares were acquired at Rs 162 as below
|Acquisition Mode||No of Shares of FV Rs 10||% of Fully Diluted Equity|
|By Agreements with Biyani Group Promoter Shareholders like Pantaloon Retail||30080137||43.97|
|By Open Offer||16713943||24.43|
Capital First has zoomed to Rs 190 High today and currently at 1.40 pm is available at Rs 186
Keep an Eye as Capital First is now with Strong Shareholders with proven multibagger success with Bharti Airtel and the likes in the past
Just to jog your memory ~ Biyani earned the wrath of Investors when FCH failed miserably on the bourses sinking to lows of Rs 130 in recent times from the IPO Pricing of Rs 765 in January 2008 ~ Biyani tried to make amends with an at par Rs 10 IPO of Future Ventures but just about managed subscription ~ it quotes at Rs 9.25 today ~ I had blogged on it at the IPO in April 2011
Biyani’s Future Ventures IPO…First you seduce at an obscene premium…and then now you seduce at Par !
Cheers for FUTURE !