Biyani to think over IPO of Future Ventures
Future Group chief Kishore Biyani said company will decide about listing its venture capital arm, Future Ventures India Ltd, in next 30 days.
By PTI |
MUMBAI: Future Group chief Kishore Biyani on Friday said the company will decide about listing its venture capital arm, Future Ventures India Ltd, in the next 30 days.
"We will think about the IPO (for Future Ventures) in the next one month," Future Group founder and Chief Executive Officer Kishore Biyani said.
He said the company would take a call on whether to go for refiling of the Draft Red Herring Prospectus (DRHP) with market regulator SEBI.
Future Ventures India (FVIL) had filed papers for an IPO of 3.74 billion shares in February last year.
According to SEBI regulations, a company has to hit the capital markets within 12 months of its DRHP getting approved.
"The issue (of February last year) was for more than Rs 2,500 crore. I cannot say right now whether we will scale it down (the size of the IPO) or not," Biyani said.
The retail czar had listed Future Capital Holdings (FCHL), the group's financial services arm, on the Bombay Stock Exchange last year.
FCHL's issue managers were JM Financial, Enam Securities, Kotak Mahindra Capital, ICICI Securities and Edelweiss Capital.
A liquidity crunch and volatile markets triggered by the global economic meltdown last year had put off many companies from going for a public issue.
"We will think about the IPO (for Future Ventures) in the next one month," Future Group founder and Chief Executive Officer Kishore Biyani said.
He said the company would take a call on whether to go for refiling of the Draft Red Herring Prospectus (DRHP) with market regulator SEBI.
Future Ventures India (FVIL) had filed papers for an IPO of 3.74 billion shares in February last year.
According to SEBI regulations, a company has to hit the capital markets within 12 months of its DRHP getting approved.
"The issue (of February last year) was for more than Rs 2,500 crore. I cannot say right now whether we will scale it down (the size of the IPO) or not," Biyani said.
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The retail czar had listed Future Capital Holdings (FCHL), the group's financial services arm, on the Bombay Stock Exchange last year.
FCHL's issue managers were JM Financial, Enam Securities, Kotak Mahindra Capital, ICICI Securities and Edelweiss Capital.
A liquidity crunch and volatile markets triggered by the global economic meltdown last year had put off many companies from going for a public issue.
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