'Subscribe' to Future Ventures India IPO: Unicon

MUMBAI: Unicon Wealth Management has recommended investors to ‘Subscribe’ to the initial public offering of Future Ventures. The company has entered the capital market to raise Rs 750-825 crores by issuing shares of face value Rs 10 each in the price-band of Rs 10-11 per share.

“Future Ventures’ ability to successfully turnaround operationally & financially the business ventures, mobilize funds for providing the funding support to existing/new business ventures and profitably divest stake in its business ventures would eventually decide the success of FVIL’s unique business model.

We believe some business ventures where they have invested have great potential going forward. Ventures like Aadhaar with long gestation period will reap the fruits in future of first mover advantage in rural retail space & be a part of rural consumption growth story.

At the upper & lower price band the issue is priced at 1.2x & 1.1x of it’s current book value. Considering the issue at face value, growth of consumerism & branded products one could SUBSCRIBE to the issue,” the report said.

The proceeds will be used to create, build, invest in or acquire, and operate business ventures.

The issue closes Thursday.