Kishore Biyani-promoted Future Group is considering an initial public offering for its venture capital arm, Future Venture India Ltd, to raise funds for the group’s expansion plans.
Some decision in this regard is likely to be taken within the next few weeks following which the company would file the prospectus with the market regulator SEBI, a senior Future group official said in an interview to a television channel.
“I think we have started looking at the mode of how we can go ahead with the IPO of Future Venture. Something is along the cards but it will take at least 30 days,” Future Group CEO Kishore Biyani said. He said the company is still working on the “final quantum of numbers” for the IPO.
“We believe in democratisation of equity in the country…We have some great plans on Future Venture but we are waiting to unfold it in the next few days,” Biyani said.
About reports that Future Group is looking at raising a sum of around Rs 2,000 crore, he said: “It is too early for me to talk about it but we are looking at a little larger number.”
The company is also open to foraying into new segments. “We are also open to new business… So we are looking at some big ideas,” he said.
Source: Business Standard