Future Ventures India May Try Its Luck Again In Capital Market (16-Aug-2010)
Future Ventures India, a unit of India’s diversified Future Group, is again planning an Initial Public Offering (IPO),to mop up as much as Rs 750 crore. Earlier, the company on February 21,2008 had filed DRHP for IPO of 3,736,156,300 equity shares to raise up to Rs 3,750 crore.However, weak market conditions forced it to put the IPO plans on the backburner.
Enam Securities,JM Financial Services and Kotak Mahindra Capital are likely to be the book managers to the issue with Edelweiss Capital and ICICI Securities are likely to act as co-book running lead managers.
The group owns India’s top listed retailer Pantaloon Retail India, whose board in 2007 approved investment of Rs 3.5 billion in Future Ventures, set up to consolidate the group’s new projects and look at consumption-led businesses.
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