According to Future Group chairman Kishore Biyani FSCSL is well capitalised and payment of debt or requirement of immediate funds is not the reason for the IPO. Photo: Hemant Mishra/MintNew Delhi: The upcoming IPO of Future Supply Chain Solutions, which is expected the garner over Rs700 crore, is primarily to give an exit to private equity firm Griffin Partners, Future Group Chairman Kishore Biyani said on Sunday. According to Biyani, FSCSL, the logistics arm of the group, is well capitalised and payment of debt or requirement of immediate funds is not the reason for the IPO. This (FSCSL) is a good capitalised company and there is a very marginal debt of about Rs32 crore long term debt,” Biyani told PTI. FSCSL is one of the largest third-party logistics service operators offering automated and IT-enabled warehousing, distribution and other logistics solutions.

Source: Mint November 26, 2017 09:45 UTC